with-three error: unable to resolve dependency tree

**Describe the bug**
When running the following command:
`npx create-react-native-app -t with-three`

I get this error:
> Something when wrong installing JavaScript dependencies.

**To Reproduce**
Steps to reproduce the behavior:
1. Run `npx create-react-native-app -t with-three`
2. See error above

**Expected behavior**
No error.

**Desktop (please complete the following information):**
- OS: Windows 10 - 21H1
- node v16.14.0
- npm v8.5.1
- expo-cli: v5.2.0

**Additional context**
From the logs
```
verbose node v16.14.0
verbose npm v8.5.1
error code ERESOLVE
error ERESOLVE unable to resolve dependency tree
error
error While resolving: threejs@1.0.0
error Found: three@0.122.0
error node_modules/three
error three@"^0.122.0" from the root project
error
error Could not resolve dependency:
error peer three@"^0.127.0" from expo-three@5.7.0
error node_modules/expo-three
error expo-three@"~5.7.0" from the root project
```