After digging a bit more I found this page: https://www.cnx-software.com/2021/09/14/ch9102f-a-replacement-for-cp2104-usb-to-uart-bridge/
Looks like my M5paprer has CH9102F instead of CP2104 (as stated on the cover).
Drivers for CH9102 from https://docs.m5stack.com/en/download site works well on my Windows 8.1. So topic can be closed.