Note

The UART converter on this board requires DTR and RTS to be disabled in order to receive Serial output.

In Platform.io, add the following lines:

monitor_dtr = 0
monitor_rts = 0

Or if using arduino-cli, use the following arguments:

$ arduino-cli monitor --port COM5 -c baudrate=115200,rts=off,dtr=off

Arduino IDE does not support this board invidually and hacking the system files feels too much efforts. An easy workaround is to temporarily switch to "ESP Dev Module" when debugging and switch back to "ESPS3 Dev Module" when compiling.

Solution found by @levak