Is there any incompatibility issue of solidity 0.5.12 (or perhaps ^0.5) with web3 js v1.2.2 or with Geth v1.9? Because a contract in v0.4.24 works perfectly with given web3 version and Geth version, while the same contract in v0.5.12 (with syntax changes wherever required) keeps giving Error: Returned values aren't valid, did it run Out of Gas?
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Returned values aren't valid, did it run Out of Gas?is generally misleading, because it typically has nothing to do with gas, but with the fact that it couldn't decode your function. There's an open issue on this in Web3.js GitHub. Make sure that the function which you are trying to call is viable in your new contract (the one generated with solc 0.5.12). A wild guess: In your JS code, are you possibly passing the bin file that you've created via solc 0.4?