Expo Web - Not Working in Expo 48

Expo SDK
1

Please provide the following:

  1. SDK Version: 48
  2. Platforms(Android/iOS/web/all): Web

When I run:

npx expo start --web

I get the following error:

WebpackOptionsValidationError: Invalid configuration object. Webpack has been initialised using a configuration object that does not match the API schema.
 - configuration.module.rules[1].oneOf[4].type should be one of these:
   "javascript/auto" | "javascript/dynamic" | "javascript/esm" | "json" | "webassembly/experimental"
  • I do not have a customized version of webpack.config.js.
  • I have the most recent version of @expo/webpack-config installed.

Any help is greatly appreciated!