I found the documentation of errorCallback here - https://developer.salesforce.com/docs/component-library/documentation/lwc/lwc.reference_lifecycle_hooks.
But whatever I am trying to implement does not seem to work properly.
Implemented in parent component and throwing error in child component, But parent component is not able to handle or catch the error.
export default class Parent extends LightningElement {
errorCallback(error, stack){
console.log(error, stack);
}
}
And in child if any error is happening, the standard error is being shown as modal and I am not getting anything in console log.