Whenever I start my 1.18 server with FerriteCore4.0.0 I keep getting the same error about Java 17.
Here is the error log: https://pastebin.com/EdqdSdcg
Is this on my end or is this an issue with the mod itself?

Same issue here.
The requested compatibility level JAVA_17 could not be set. Level is not supported by the active JRE or ASM version (Java 17.0, ASM 9.0 (ASM10_EXPERIMENTAL)) is the error
I have been getting this with other mods too, like Starlight for example. No idea how to run the mod

This was actually a bug in the Fabric installer: FabricMC/fabric-installer#94. Reinstalling the server with the latest installer should fix it.