tmserver crashed with ModuleNotFoundError in /usr/lib/python3/dist-packages/translate/misc/wsgi.py: No module named 'cheroot'

Execute tmserver and it will fail with the error:

$ tmserver
Traceback (most recent call last):
  File "/usr/bin/tmserver", line 5, in <module>
    from translate.services.tmserver import main
  File "/usr/lib/python3/dist-packages/translate/services/tmserver.py", line 30, in <module>
    from translate.misc import selector, wsgi
  File "/usr/lib/python3/dist-packages/translate/misc/wsgi.py", line 23, in <module>
    from cheroot.wsgi import Server
ModuleNotFoundError: No module named 'cheroot'

ProblemType: Crash
DistroRelease: Ubuntu 24.04
Package: translate-toolkit 3.12.2-1
ProcVersionSignature: Ubuntu 6.8.0-22.22-generic 6.8.1
Uname: Linux 6.8.0-22-generic x86_64
ApportVersion: 2.28.0-0ubuntu1
Architecture: amd64
CasperMD5CheckResult: pass
CurrentDesktop: ubuntu:GNOME
Date: Tue Apr 9 21:21:59 2024
ExecutablePath: /usr/bin/tmserver
InstallationDate: Installed on 2024-04-08 (1 days ago)
InstallationMedia: Ubuntu 24.04 LTS "Noble Numbat" - Daily amd64 (20240408)
InterpreterPath: /usr/bin/python3.12
JournalErrors: -- No entries --
PackageArchitecture: all
ProcCmdline: /usr/bin/python3 /usr/bin/tmserver
Python3Details: /usr/bin/python3.12, Python 3.12.2, python3-minimal, 3.12.2-0ubuntu2
PythonArgs: ['/usr/bin/tmserver']
PythonDetails: N/A
SourcePackage: translate-toolkit
Title: tmserver crashed with ModuleNotFoundError in /usr/lib/python3/dist-packages/translate/misc/wsgi.py: No module named 'cheroot'
UpgradeStatus: No upgrade log present (probably fresh install)
UserGroups: adm cdrom dip lpadmin plugdev sudo users