tc qdisc cake fails on Ubuntu 18.04 LTS

I'm running Ubuntu 18.04 LTS with latest lowlatency kernel. In practice I've installed package linux-lowlatency-hwe-18.04-edge which has resulted packages linux-image-5.4.0-117-lowlatency and linux-modules-5.4.0-117-lowlatency to be installed right now.

$ dpkg -L linux-modules-5.4.0-117-lowlatency | grep cake
/lib/modules/5.4.0-117-lowlatency/kernel/net/sched/sch_cake.ko

$ sudo modprobe sch_cake
# completes successfully

$ sudo tc qdisc add dev enp3s0 root cake bandwidth 101Mbit ethernet rtt 20ms
Unknown qdisc "cake", hence option "bandwidth" is unparsable

It appears that iproute2 cannot correctly support this kernel. Similar thing works just fine with Ubuntu 20.04 LTS (tested with generic kernel only, though).

Is this a known limitation or a bug?

ProblemType: Bug
DistroRelease: Ubuntu 18.04
Package: iproute2 4.15.0-2ubuntu1.3
ProcVersionSignature: Ubuntu 5.4.0-117.132~18.04.1-lowlatency 5.4.189
Uname: Linux 5.4.0-117-lowlatency x86_64
ApportVersion: 2.20.9-0ubuntu7.28
Architecture: amd64
CurrentDesktop: MATE
Date: Thu Jun 16 15:30:17 2022
EcryptfsInUse: Yes
InstallationDate: Installed on 2019-01-05 (1257 days ago)
InstallationMedia: Ubuntu 18.04.1 LTS "Bionic Beaver" - Release amd64 (20180725)
SourcePackage: iproute2
UpgradeStatus: No upgrade log present (probably fresh install)