This solved my exact same problem: If you guys are archiving with WinRAR new versions and the file should have password because of some security considerations WinRAR will use "AES+Deflate" compression method which can be checked here:

To Solve I had to change the compression method to "Deflate", and this is done by selecting "ZIP" option in archive format and then checking "ZIP legacy encryption" in "set password" like this:

and then enter password