bundles not generated when s:s:d run with `-s compact`

trace output:

(450.8348079994321): Resolving dependency "jquery/jquery.mobile.custom" from "unknown source"
(450.95511799678206): Resolving dependency "mage/common" from "unknown source"
(451.0416179969907): Resolving dependency "mage/dataPost" from "unknown source"
[...]
(452.7179719991982): Resolving dependency "Magento_Catalog/js/more-less" from "unknown source"
(452.83620499819517): Preparing to analyze "jquery/jquery.mobile.custom" for dependencies
(453.26991099864244): Warning for missing dependency "jquery/jquery.mobile.custom", which was required by "<entry point>"
(453.3077109977603): Preparing to analyze "mage/common" for dependencies
(453.3644319996238): Warning for missing dependency "mage/common", which was required by "<entry point>"
(453.37505899742246): Preparing to analyze "mage/dataPost" for dependencies
(453.4178909994662): Warning for missing dependency "mage/dataPost", which was required by "<entry point>"
[...]
(468.5774130001664): Resolving dependency "Magento_Catalog/js/more-less" from "unknown source"

baler then gets stuck in an endless loop.

Reproduce the issue with the reported s:s:d command and -s compact, then inspect the trace around the repeated missing-dependency resolution. Identify why processing does not terminate and verify that bundle generation completes instead of entering an endless loop.