The version I am using is v3.0.2.stable.official
I was following the Cutout Animation guide on the godot docs, but came across a problem that I do not know how to fix. At the end of the guide it instructs you to make an IK chain for the bones you have made. I followed the steps, but it seems I did something wrong.
Here is what it is supposed to look like: 
Here is what is happening for me:

(I left only the leg for clarity)
I followed the tutorial twice and I still can't get it to work. Any help would be appreciated.