NXLog Community edition not finding modules

Hello,
I am getting an error loading modules with a trivial configuration.
The nxlog.conf configuration file:

# ############ BEGIN nxlog.conf
Panic Soft
#NoFreeOnExit TRUE

define ROOT     C:\Program Files\nxlog
#define CERTDIR  %ROOT%\cert
#define CONFDIR  %ROOT%\conf\nxlog.d
define LOGDIR   %ROOT%\data

define LOGFILE  %LOGDIR%\nxlog.log
LogFile %LOGFILE%


<Input in>
     Module  im_null
#     Module  im_file
</Input>
<Output out>
#    Module  om_tcp
#    Module  om_file
    Module  om_null
</Output>


# Connect input 'in' to output 'out'
 <Route DefaultRoute>
     Path        in => out
 </Route>

# ############ END nxlog.conf

The error:

2022-03-22 15:05:24 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:21
2022-03-22 15:05:24 ERROR module 'out' is not declared at c:\Program Files\nxlog\conf\nxlog.conf:27
2022-03-22 15:05:24 ERROR route DefaultRoute is not functional without output modules, ignored at c:\Program Files\nxlog\conf\nxlog.conf:27
2022-03-22 15:05:24 WARNING no routes defined!
2022-03-22 15:05:24 WARNING not starting unused module in

If I try to load more modules with following configuration, things gets more worse:

# ############ BEGIN nxlog.conf
Panic Soft
#NoFreeOnExit TRUE

define ROOT     C:\Program Files\nxlog
#define CERTDIR  %ROOT%\cert
#define CONFDIR  %ROOT%\conf\nxlog.d
define LOGDIR   %ROOT%\data

define LOGFILE  %LOGDIR%\nxlog.log
LogFile %LOGFILE%

#Moduledir %ROOT%\modules
#CacheDir  %ROOT%\data
#Pidfile   %ROOT%\data\nxlog.pid
#SpoolDir  %ROOT%\data


# Following processors give error "...ERROR Module missing at ..."
<Processor _proc_buffer>
    Module     pm_buffer
</Processor>
<Processor _proc_evcorr>
    Module          pm_evcorr
</Processor>
<Processor _proc_norepeat>
    Module      pm_norepeat
</Processor>
<Processor _proc_null>
    Module     pm_null
</Processor>
<Processor _proc_pattern>
    Module     pm_pattern>
</Processor>
<Processor _proc_transformer>
    Module     pm_transformer>
</Processor>


# Following inputs give error "...ERROR Module missing at ..."
<Input _im_exec>
    exec  im_exec
</Input>
<Input _im_module>
    Module  im_module
</Input>
<Input _im_file>
    file  im_file
</Input>
<Input _im_internal>
    internal  im_internal
</Input>
<Input _im_kernel>
    kernel  im_kernel
</Input>

# Following outputs give error "...ERROR Module missing at ..."
<Output _om_exec>
    Module  om_exec
</Output>
<Output _om_file>
    Module  om_file
</Output>
<Output _om_http>
    Module  om_http
</Output>
<Output _om_null>
    Module  om_null
</Output>
<Output _om_ssl>
    Module  om_ssl
</Output>
<Output _om_tcp>
    Module  om_tcp
</Output>
<Output _om_udp>
    Module  om_udp
</Output>

<Input in>
     Module  im_null
#     Module  im_file
</Input>
<Output out>
#    Module  om_tcp
#    Module  om_file
    Module  om_null
</Output>


# Connect input 'in' to output 'out'
 <Route DefaultRoute>
     Path        in => out
 </Route>

# ############ END nxlog.conf

The errors:

2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:21
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:24
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:27
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:30
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:33
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:36
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:42
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:45
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:48
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:51
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:54
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:59
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:62
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:65
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:68
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:71
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:74
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:77
2022-03-22 15:07:55 ERROR Module missing at c:\Program Files\nxlog\conf\nxlog.conf:87
2022-03-22 15:07:55 ERROR module 'out' is not declared at c:\Program Files\nxlog\conf\nxlog.conf:93
2022-03-22 15:07:55 ERROR route DefaultRoute is not functional without output modules, ignored at c:\Program Files\nxlog\conf\nxlog.conf:93
2022-03-22 15:07:55 WARNING no routes defined!
2022-03-22 15:07:55 WARNING not starting unused module in

I get same errors on two 64 bit machines (Windows 10 and Windows Server 2012R2)
Tried with processmonitor.exe to see if nxlog-processor.exe fail to load the dll module but I do not see any load attempt.
I suspect that I must missing a macroscopic thing but am unable to spot it.

Using nxlog-ce-3.0.2272.msi Community Edition for Windows 64 bit.
Any hint will be appreciated.

Regards.
Carlo