asciiOnly: true results in invalid escape code inside identifier

[mischnic]

Describe the bug

asciiOnly: true results in invalid escape code inside identifier

Input code

const módulo = 123;
console.log(módulo);

Config

{
  "jsc": {
    "parser": {
      "syntax": "ecmascript",
      "jsx": false
    },
    "target": "es3",
    "loose": false,
        "minify": {
            "compress": false,
            "format": {
                "asciiOnly": true
            }
        }
  },
  "module": {
    "type": "es6"
  },
  "minify": false,
  "isModule": true
}

Playground link (or link to the minimal reproduction)

https://play.swc.rs/?version=1.4.14-nightly-20240411.1&code=H4sIAAAAAAAAA0vOzysuUcg9vDmlNCdfwVbB0MjYmisZKJifk6qXk5%2BuAZXStAYATd5jRSoAAAA%3D&config=H4sIAAAAAAAAA2VQSwqDQAzde4oh6%2B4KXfQO0jMM01hG5kcSoSLevePoqMVd8j55j0yNUtCzgaea8piXpImR9j0jPAbR34wAGq%2FZkE0Ct8r2vFCddowFmlcGRNMHpbj4vsnBxchY5fVExr0NthtPoRtuok%2BEzFdLobtIXsvFVrhc1NpXcMtVoQH%2FFHNznkpl8PE9ODweIWPCtf4DDlEtutcBy211lpz5B8lC%2FqlUAQAA

SWC Info output

No response

Expected behavior

Output valid JS

Actual behavior

Invalid JS:

var m\xf3dulo = 123;
console.log(m\xf3dulo);

Version

1.4.14-nightly-20240411.1

Additional context

Coming from parcel-bundler/parcel#9632

[swc-bot]

This closed issue has been automatically locked because it had no new activity for a month. If you are running into a similar issue, please create a new issue with the steps to reproduce. Thank you.