Thanks, I upgraded the bpmn plugins with the newest versions. I am using
"bpmn-js-properties-panel": "^1.0.0-alpha.13",
"@bpmn-io/properties-panel": "^0.13.2",
Tried to implement the magic property example (bpmn-js-examples/properties-panel-extension at master · bpmn-io/bpmn-js-examples · GitHub referencing to this solution), had PropertiesProvider JS definition / create-react-app 5.x this issue, so I fixed with the suggested solution. Now I will try to implement the rules I need for the panel.
Also I had Palette overiden and after adding the newest version of the panel. I am facing this issue
Uncaught TypeError: canvas.findRoot is not a function
at PreviewSupport.js:246:1
at Array.filter (<anonymous>)
at Selection.select (PreviewSupport.js:246:1)
at RuleProvider.js:86:1
at invokeFunction (EventBus.js:213:1)
at EventBus._invokeListener (EventBus.js:64:1)
at EventBus._invokeListeners (EventBus.js:48:1)
at EventBus.fire (EventBus.js:9:1)
at fire (HandTool.js:152:1)
at SVGSVGElement.handlers.<computed> (HoverFix.js:31:1)
Previously it was working fine for me. 
But anyway any opinion on the custom property panel solution (using material UI elements instead of the bpmn ones) ? Is that wrong way of doing things? Are there some big cons for that solution?