Cannot use 'flags' in `dbt_project.yml`

The problem I’m having

When adding a ‘flags’ section to my dbt_project.yml, I get the error: Runtime Error at path []: Additional properties are not allowed ('flags' was unexpected)

The context of why I’m trying to do this

I was using a ‘config’ section in my profiles.yml and was receiving a deprecation warning in a recent release of dbt-core 1.7.x ([WARNING]: Deprecated functionality User config should be moved from the 'config' key in profiles.yml to the 'flags' key in dbt_project.yml.). Based on this, I wanted to move the config defined there to the flags section in my dbt_project.yml.

What I’ve already tried

I was following the dbt docs [About flags (global configs)](About flags (global configs) | dbt Developer Hub but when adding the section proposed there to my dbt_project.yml I get the error described above.

Some example code or error messages

# dbt_project.yml
flags:
  # set default for running this project -- anywhere, anytime, by anyone
  fail_fast: true

leads to

Runtime Error at path []: Additional properties are not allowed ('flags' was unexpected)

This issue was resolved after upgrading to dbt v1.8

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