I had this error too. It got fixed after I changed my web3 version to 2.0.0-alpha which was 1.0.0-beta.55 before.
So just uninstall your web3 using npm uninstall web3.
Then do npm install email@example.com.
Hopefully, this will fix it for you.
You can watch for solidity events using myContract.events.MyEvent([options][, callback]) with web3 (https://web3js.readthedocs.io/en/v1.2.0/web3-eth-contract.html#contract-events).
Note that you have to connect to your node via websocket in order to subscribe to events.