Webpack is not bundling a dependency

I have a Typescript library which uses Axios as following:

import axios from 'axios';

export class Connector { readonly axios = axios.create(); ... }

After publishing, I import the library in a new React project created with create-react-app --template=typescript. When I run the project in the browser and instantiate a new connector such as:

import { Connector } from 'mylib';
const connector = new Connector();

I get an Uncaught TypeError: Cannot read properties of undefined at the axios.create() call. Inspecting in the browser, it seems webpack is not bundling anything related to Axios (which is a dependency from mylib).

Now, If I do import Axios directly in the App.tsx file and call axios.create(), this last call works (but the call done inside the mylib library still does not work).

Basically the axios object is undefined inside mylib, and it seems webpack is producing an import for node_modules/axios/dist/browser/axios.cjs, which does not exist in the bundle for some reason.

What is happening here?

Using webpack 5.

This is a bug in Axios 1.1.3+, which is still broken: https://github.com/axios/axios/issues/5154

Downgrade to 1.1.2 and stuff works.