ES Modules may not assign module.exports or exports.*, Use ESM export syntax

[maulik1729]

Link to the code that reproduces this issue

https://github.com/maulik1729/es-module-next-bug

To Reproduce

1. clone the repo
2. yarn install
3. yarn build

Current vs. Expected behavior

Current behavior:
When I run yarn build it is giving below error Collecting page data .Error: ES Modules may not assign module.exports or exports.*, Use ESM export syntax, instead: 302 at Object.set [as exports] (/Users/maulikpatel/Desktop/next-14/.next/server/webpack-runtime.js:1:611) at 302 (/Users/maulikpatel/Desktop/next-14/.next/server/pages/index.js:1:1763) at t (/Users/maulikpatel/Desktop/next-14/.next/server/webpack-runtime.js:1:142) at 910 (/Users/maulikpatel/Desktop/next-14/.next/server/pages/index.js:1:703) at t (/Users/maulikpatel/Desktop/next-14/.next/server/webpack-runtime.js:1:142) at /Users/maulikpatel/Desktop/next-14/.next/server/pages/index.js:1:2259 at t.X (/Users/maulikpatel/Desktop/next-14/.next/server/webpack-runtime.js:1:1009) at /Users/maulikpatel/Desktop/next-14/.next/server/pages/index.js:1:2230 at Object.<anonymous> (/Users/maulikpatel/Desktop/next-14/.next/server/pages/index.js:1:2295) at Module._compile (node:internal/modules/cjs/loader:1256:14)

Expected behavior:
yarn build should run successfully without error.

Provide environment information

Operating System:
  Platform: darwin
  Arch: arm64
  Version: Darwin Kernel Version 23.3.0: Wed Dec 20 21:30:44 PST 2023; root:xnu-10002.81.5~7/RELEASE_ARM64_T6000
Binaries:
  Node: 18.18.2
  npm: 9.8.1
  Yarn: 1.22.21
  pnpm: 9.0.6
Relevant Packages:
  next: 14.1.0
  eslint-config-next: N/A
  react: 18.3.1
  react-dom: 18.3.1
  typescript: 5.4.5
Next.js Config:
  output: N/A

Which area(s) are affected? (Select all that apply)

Module Resolution, SWC, Webpack

Which stage(s) are affected? (Select all that apply)

next build (local)

Additional context

Same code is working for NextJS 14.0.4 but when I am trying to upgrade it to NextJS 14.1.0 it is breaking.

[BaileyMillerSSI]

Btw I think I am having similar problems and I found that version bump to be the same issue. #65707