Dev: Update react-scripts dependency to remove high severity vulnerabilities

### Is your feature request related to a problem? Please describe.
The current react-scripts dependency (v3.4.3) is causing 2 high severity warnings

### Describe the solution you'd like
Update react-scripts dependency from 3.4.3 to 4.0.3. Note: this install involves potential breaking changes.
While on it, fix other vulnerability warnings as well.

### Describe alternatives you've considered
Ignore warnings if they don't causing major issue

### Additional context
These warnings were caught on the initial dependencies installation of a newly cloned project.
Here's the [gist](https://gist.github.com/mtreacy002/592b670535b1d367a867615365f1aa33) of npm audit reports.