Hot reload doesn't work for react-scripts 5

[pnkapadia64]

Describe the bug

With webpack 5 and the latest react-scripts, on updating a file, hot reload doesn't work and gives an error.

jsonp chunk loading:81 Uncaught TypeError: Cannot set properties of undefined (setting './src/components/footer/Footer.tsx')
    at self.webpackHotUpdatexxx (jsonp chunk loading:81:1)
    at src_components_footer_Footer_tsx.38cb2e07728e395b6891.hot-update.js:2:45

Related dependencies:

"react": "^17.0.2",
"react-dom": "^17.0.2",
"react-intl": "^5.20.10",
"react-loaders": "^3.0.1",
"react-scripts": "^5.0.0",
"react-swipeable-views": "0.14.0",

"react-app-rewired": "^2.1.6",
"react-error-overlay": "6.0.9",
"ts-node": "^9.1.1",
"typescript": "^4.2.4"

Node: v14.17.3
NPM: 7.21.1

Did you try recovering your dependencies?

Yes