Error SQL Duplicate column name 'catid' when updating to SP Page Builder 5 for Joomla

If you are getting a "Error SQL Duplicate column name 'catid'" message after trying to update update from SP Page Builder v3.x or v4.x to v5.0.x in Joomla, here is how to fix your site and complete the update.

BTW, you might also be getting an error that looks like this:
"Failed opening required '/home/sitename/public_html/stageit/components/com_sppagebuilder/builder/classes/base.php' (include_path='.:/opt/cpanel/ea-php81/root/usr/share/pear')


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