When I installed ioquake3 on my Mac OSX 12.1 with brew, I’ve copied the pak0.pk3 in my ~/Library/Application Support/Quake3/baseq3/ directory. I still got the error message on start about missing point release files and I should re-install 1.32 point release. I got the same error message in the crashlog.txt.
I got it fixed by copying not just the pak0.pk3 file in my directory, I just copied all pak files into the baseq3 directory.
gl & hf