Help - I am using ts-loader in my webpack 5 and i am getting an error message which does not explain the problem

Expected Behaviour

Webpack build fails due to a typescript error with a proper error trace in the log

Actual Behaviour

Getting an error with a random uuid without any error trace,

Steps to Reproduce the Problem

Just run the webpack build

My webpack configuration for tsloader.:

{
            test: /\.(ts|tsx)$/,
            include: paths.componentSrc,
            exclude: paths.componentNodeModules,
            use: [
              {
                loader: require.resolve('babel-loader'),
                options: {
                  // Don't include whitespace characters and line terminators.
                  compact: true,
                },
              },
              { loader: require.resolve('ts-loader') },
            ],
          },

The error message:

Start with the reported webpack 5 configuration using babel-loader and ts-loader, then reproduce the build failure described in the issue. Trace why the log shows only a random UUID instead of the TypeScript error trace; done means the build reports the underlying TypeScript error clearly.