The pnp module is currently appended to the existing NODE_OPTIONS value which allows other modules to be attempted to be pre-loaded first and be unresolved.

See source here:

  if (await fs.exists(pnpPath)) {
    nodeOptions += ` --require ${pnpPath}`;
  }

Instead it should be something like:

  if (await fs.exists(pnpPath)) {
    nodeOptions = `--require ${pnpPath} ${nodeOptions}`;
  }

Related to #6629 (comment).

Update:

PR opened at #6942.