Improve error message when adding type to generic application

Consider

https://rescript-lang.org/try?version=v12.0.0-beta.13&module=esmodule&code=LYewJgrgNgpgBAdRgIwIIAUCScC8cDeAUHAJCiSxwAiA8gLIbZ5EkkAuAngA7wyzAwAdm2JwAvnEJjChWGzh8YA4QCUYAMwDCIAE46YAY3kAuOGoCGRgHT71AHgBy0KOeSwrbO0jRYrtBr6KymwAfCG4ZjCWbFYQAM4wauoAFE5QLm4wVoLOAJSyMPJBQmxJERbW8YkaXiiMfvT1xcIhqc6u7jnp+UA

module WebAPI = {
 	module DOMAPI = {
		type element
  } 
}

let elementRefCorrect : React.ref<Nullable.t<WebAPI.DOMAPI.element>> = React.useRef(Nullable.null)
let elementRef = React.useRef<WebAPI.DOMAPI.element>(Nullable.null)

In F#, you can specify the React.useRef<WebAPI.DOMAPI.element> syntax.
I can live with the fact that ReScript doesn't have the same syntax as F#.
But the error message is very confusing:

Type Errors
[E] Line 8, column 30:
The value element can't be found in WebAPI.DOMAPI

The type does exists, whatever I'm going for syntax-wise is the issue here.
Could we improve this?
Thoughts @zth?

Start with the ReScript Try reproducer in the issue and trace the compiler's type-error reporting for the React.useRef generic application. The work is done when this invalid syntax produces a diagnostic that explains the syntax problem instead of incorrectly saying WebAPI.DOMAPI.element cannot be found.