I know that there was a recent regression with the PHP lightning services around the Image Magick extension:
That being said, the error you are seeing seems to indicate that Image Magick is there, it’s just missing features.
In that StackOverflow thread, one of the answers mentions the underlying “why”
Seeking (offset) is not supported with remote files. Attempting to seek on non-local files may work with small offsets, but this is unpredictable because it works on the buffered stream.