Fixing upstream dependency conflict: How to read the error log & determine a fix

Question

When I try to do npm install for my Angular project, I am getting the below error.

npm i
npm ERR! code ERESOLVE
npm ERR! ERESOLVE could not resolve
npm ERR!
npm ERR! While resolving: karma-jasmine-html-reporter@1.7.0
npm ERR! Found: jasmine-core@3.6.0
npm ERR! node_modules/jasmine-core
npm ERR!   dev jasmine-core@"~3.6.0" from the root project
npm ERR!   jasmine-core@"^3.6.0" from karma-jasmine@4.0.2
npm ERR!   node_modules/karma-jasmine
npm ERR!     dev karma-jasmine@"~4.0.0" from the root project
npm ERR!     peer karma-jasmine@">=1.1" from karma-jasmine-html-reporter@1.7.0
npm ERR!     node_modules/karma-jasmine-html-reporter
npm ERR!       dev karma-jasmine-html-reporter@"^1.5.0" from the root project 
npm ERR!
npm ERR! Could not resolve dependency:
npm ERR! peer jasmine-core@">=3.8" from karma-jasmine-html-reporter@1.7.0     
npm ERR! node_modules/karma-jasmine-html-reporter
npm ERR!   dev karma-jasmine-html-reporter@"^1.5.0" from the root project
npm ERR!
npm ERR! Conflicting peer dependency: jasmine-core@5.1.0
npm ERR! node_modules/jasmine-core
npm ERR!   peer jasmine-core@">=3.8" from karma-jasmine-html-reporter@1.7.0
npm ERR!   node_modules/karma-jasmine-html-reporter
npm ERR!     dev karma-jasmine-html-reporter@"^1.5.0" from the root project
npm ERR!
npm ERR! Fix the upstream dependency conflict, or retry
npm ERR! this command with --force or --legacy-peer-deps
npm ERR! to accept an incorrect (and potentially broken) dependency resolution.
npm ERR!
npm ERR!

The package.json file goes like this

{
  "name": "learn-ng",
  "version": "0.0.0",
  "scripts": {
    "ng": "ng",
    "start": "ng serve",
    "build": "ng build",
    "openssl-start": "set NODE_OPTIONS=--openssl-legacy-provider && ng serve",
    "openssl-build": "set NODE_OPTIONS=--openssl-legacy-provider && ng build",
    "test": "ng test",
    "lint": "ng lint",
    "e2e": "ng e2e"
  },
  "private": true,
  "dependencies": {
    "@angular/animations": "~10.2.4",
    "@angular/cdk": "^10.2.7",
    "@angular/common": "~10.2.4",
    "@angular/compiler": "~10.2.4",
    "@angular/core": "~10.2.4",
    "@angular/forms": "~10.2.4",
    "@angular/material": "^10.2.7",
    "@angular/platform-browser": "~10.2.4",
    "@angular/platform-browser-dynamic": "~10.2.4",
    "@angular/router": "~10.2.4",
    "rxjs": "~6.6.0",
    "tslib": "^2.0.0",
    "zone.js": "~0.10.2"
  },
  "devDependencies": {
    "@angular-devkit/build-angular": "~0.1002.1",
    "@angular/cli": "~10.2.1",
    "@angular/compiler-cli": "~10.2.4",
    "@types/jasmine": "~3.5.0",
    "@types/jasminewd2": "~2.0.3",
    "@types/node": "^12.11.1",
    "codelyzer": "^6.0.0",
    "jasmine-core": "~3.6.0",
    "jasmine-spec-reporter": "~5.0.0",
    "karma": "~5.0.0",
    "karma-chrome-launcher": "~3.1.0",
    "karma-coverage-istanbul-reporter": "~3.0.2",
    "karma-jasmine": "~4.0.0",
    "karma-jasmine-html-reporter": "^1.5.0",
    "protractor": "~7.0.0",
    "ts-node": "~8.3.0",
    "tslint": "~6.1.0",
    "typescript": "~4.0.2"
  }
}

I can see that there's an issue with either jasmine-core package or karma-jasmine-html-reporter package versions.

1. Can someone explain what the below lines mean in detail?

npm ERR! While resolving: karma-jasmine-html-reporter@1.7.0
npm ERR! Found: jasmine-core@3.6.0

npm ERR! Could not resolve dependency:
npm ERR! peer jasmine-core@">=3.8" from karma-jasmine-html-reporter@1.7.0

Conflicting peer dependency: jasmine-core@5.1.0

2. What is the ideal fix for the error? I tried npm config set legacy-peer-deps true which solves the issue while npm i. But as per this stackoverflow reference the npm config set legacy-peer-deps true command just lets you bypass the error but doesn't fix it. In that case, Do I need to change the jasmine-core package version or karma-jasmine-html-reporter package version or both the package versions?