Error: Cannot find module '@babel/preset-env' with babel-register on globally installed module

[pvdlg]

Bug Report

Current Behavior
When using @babel/register, using programatic configuration, with @babel/preset-env and using the only option, a execution the following error Error: Cannot find module '@babel/preset-env' is thrown.

Input Code
See repo https://github.com/semantic-release/travis-deploy-once/tree/babel-issue-%238777:

• @babel/preset-env in package.json
• @babel/register configuration

To reproduce:

## Clone the repo and checkout branch with reproduction code
$ git clone https://github.com/semantic-release/travis-deploy-once
$ git checkout babel-issue-#8777
## Install the package globally from the file system
$ yarn global add file:$PWD
## Change working directory to anywhere other than the repo
$ cd ~
## Run the globally installed binary
$ travis-deploy-once

The error Error: Cannot find module '@babel/preset-env' will be thrown because try to load the plugins/preset from the current working directory (~ in this example) rather than from where the code run.

If the only option is removed from the config, then the travis-deploy-once works as expected on Node 10 (it should return "Not running on Travis"). However it fails on Node 6 with a syntax exception as the sources are not compiled.

Expected behavior/code
@babel/register should load babel plugins and preset from where it runs and not from the current working directory.

Babel Configuration (.babelrc, package.json, cli command)

require('@babel/register')({
  only: [/travis-deploy-once\/(lib|cli.js)/, /node_modules\/(got|cacheable-request)/],
  presets: [['@babel/preset-env', {targets: {node: 'current'}, useBuiltIns: 'entry'}]],
});
require('@babel/polyfill');

Environment

• Babel version(s): 7.1.0
• Node/npm version: Node 6
• OS: OSX
• Monorepo: no
• How you are using Babel: babel-register

[babel-bot]

Hey @pvdlg! We really appreciate you taking the time to report an issue. The collaborators
on this project attempt to help as many people as possible, but we're a limited number of volunteers,
so it's possible this won't be addressed swiftly.

If you need any help, or just have general Babel or JavaScript questions, we have a vibrant Slack
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[pvdlg]

For information change the @babel/register config as follow resolve the problem:

require('@babel/register')({
  only: [/travis-deploy-once\/(lib|cli.js)/, /node_modules\/(got|cacheable-request)/],
-   presets: [['@babel/preset-env', {targets: {node: 'current'}, useBuiltIns: 'entry'}]],
+   presets: [[require.resolve('@babel/preset-env'), {targets: {node: 'current'}, useBuiltIns: 'entry'}]],
});
require('@babel/polyfill');

That really look like a workaround though....It basically resolve the path of the plugins/presets with require.resolve because it seems @babel/register doesn't do that properly.

I still think @babel/register should be able to resolve @babel/preset-env by itself, by resolving from the file in which it's defined, rather than the current working directory.