Connection attempt failed. PostgresSQL with SQL Developer

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I have installed postgresql 14.1 version and I am able to access pgadmin through which I have created few databases.
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Now, I need to access these dbs through sql developer so I have added postgresql-42.7.3.jar in my weblogic ext folder and added same entry in SQL developer tools > preferences > third party JDBC drivers.
After that, Restarted SQL developer.

Now, I am trying to connect (not able to see anything in choose database drop down) but I am getting connection attempt failed error –

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