Running app fails with TypeError

[olifante]

Running npm run start or yarn start fails with the following error:

[...]/node_modules/webpack-cli/bin/config-yargs.js:89
				describe: optionsSchema.definitions.output.properties.path.description,
				                                           ^

TypeError: Cannot read properties of undefined (reading 'properties')

OS: macOS Monterey 12.5.1 running on M1 processor
node: v17.0.1
npm: 8.19.3