That is because Bluestacks runs on an older SDK of android. You need 5.01 minimum. I would strongly suggest ditching Bluestacks and download Memu instead.
Runs on a 5.01 kernel and a much better system.
And yes LM for android works with it.
*Sorry, just realised you are running on Mac*
Try Andy or Nox player as a memu altrernative that has a Mac version
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