PCF Control compile error : Cannot find module 'ajv/dist/compile/codegen'

I was working on a new PCF control project and I encountered an unexpected error when attempting to build the project, even though no custom code had been added yet. (Cannot find module ajv/dist/compile/codegen)

For reference, I’m using the latest version ( at the time of writing) of the Microsoft Power Platform CLI ( 1.21.4+g4869036) and here are the steps to reproduce :

1. Execute the init method of the pac cli. This will scaffold a new PCF control projects with all the basic dependencies.
2. Execute npm install to download the dependencies
3. Try to build the project : npm run build
4. ❌Fails with error : Cannot find module “ajv/dist/compile/codegen”

pac pcf init -ns <Namespace> -n <ProjectName> -t field
npm install
npm run build

The error message is quite straitforward and points toward a node module that cannot be found : ajv/dist/compile/codegen . Upon checking the node_modules directory, even if the ajv module seems present, the compile/codegen part is nowhere to be found.