dynamicInstantiate loader hook is gone since Node v14.5.0.
It causes warning:
Warning: The dynamicInstantiate loader hook has been removed.
For some code, including the test suite of this repository, it causes error:
RangeError [ERR_UNKNOWN_MODULE_FORMAT]: Unknown module format: dynamic
at Loader.getModuleJob (internal/modules/esm/loader.js:236:13)
at async ModuleWrap.<anonymous> (internal/modules/esm/module_job.js:53:21)
at async Promise.all (index 3)
at async link (internal/modules/esm/module_job.js:58:9) {
code: 'ERR_UNKNOWN_MODULE_FORMAT'
}
nodejs/node#33501 explains why they removed dynamicInstantiate.