Android Studio lint error calling getApplicationContext inside AppCompatActivity

I have just attempted to setup a new project in Android studio, with the following settings:

build.gradle

plugins {
    id 'com.android.application' version '7.2.1' apply false
    id 'com.android.library' version '7.2.1' apply false
}

task clean(type: Delete) {
    delete rootProject.buildDir
}

settings.gradle

pluginManagement {
    repositories {
        gradlePluginPortal()
        google()
        mavenCentral()
        mavenLocal()
    }
}
dependencyResolutionManagement {
    repositoriesMode.set(RepositoriesMode.FAIL_ON_PROJECT_REPOS)
    repositories {
        google()
        mavenCentral()
        mavenLocal()
    }
}
rootProject.name = "Example"
include ':app'

app/build.gradle

plugins {
    id 'com.android.application'
}

android {
    compileSdk 34
    buildToolsVersion "30.0.3"

    defaultConfig {
        applicationId "com.example"
        minSdk 26
        targetSdk 34
        versionCode 1
        versionName "1.0"

        testInstrumentationRunner "androidx.test.runner.AndroidJUnitRunner"
    }

    buildTypes {
        release {
            minifyEnabled false
            proguardFiles getDefaultProguardFile('proguard-android-optimize.txt'), 'proguard-rules.pro'
        }
    }
    compileOptions {
        sourceCompatibility JavaVersion.VERSION_1_8
        targetCompatibility JavaVersion.VERSION_1_8
    }
}

dependencies {

    implementation 'androidx.appcompat:appcompat:1.6.1'
    implementation 'com.google.android.material:material:1.12.0'
    implementation 'androidx.constraintlayout:constraintlayout:2.1.4'
    testImplementation 'junit:junit:4.13.2'
    androidTestImplementation 'androidx.test.ext:junit:1.1.5'
    androidTestImplementation 'androidx.test.espresso:espresso-core:3.5.1'
}

Using a very basic Main Activity, I am attempting to store the Application context in a variable in the main activity:

package com.example;

import androidx.appcompat.app.AppCompatActivity;

import android.content.Context;
import android.os.Bundle;

public class MainActivity extends AppCompatActivity {

    @Override
    protected void onCreate(Bundle savedInstanceState) {
        super.onCreate(savedInstanceState);
        setContentView(R.layout.activity_main);

        //Set context
        Context ctx = getApplicationContext();
    }
}

In the IDE, the method cannot be resolved and the following error is given when highlighting over the red method text: Cannot resolve method 'getApplicationContext' in 'MainActivity'

The app compiles and runs without any errors, so it is certainly a lint issue in the IDE itself. I have tried multiple restarts, invalidating cache and project rebuilds but nothing has worked. What is causing this?

This appears to be caused by the version of google android materials library used. Downgrading from 'com.google.android.material:material:1.12.0' to 'com.google.android.material:material:1.11.0' resolved the lint error.