diff --git a/api-extractor/ts-node.api.md b/api-extractor/ts-node.api.md
index 8f125fb42..acde0be58 100644
--- a/api-extractor/ts-node.api.md
+++ b/api-extractor/ts-node.api.md
@@ -4,6 +4,8 @@
 
 ```ts
 
+/// <reference types="node" />
+
 import { BaseError } from 'make-error';
 import type * as _ts from 'typescript';
 
@@ -24,6 +26,7 @@ export interface CreateOptions {
     // @deprecated
     dir?: string;
     emit?: boolean;
+    esm?: boolean;
     experimentalReplAwait?: boolean;
     // (undocumented)
     fileExists?: (path: string) => boolean;
@@ -32,6 +35,7 @@ export interface CreateOptions {
     ignoreDiagnostics?: Array<number | string>;
     logError?: boolean;
     moduleTypes?: ModuleTypes;
+    preferTsExts?: boolean;
     pretty?: boolean;
     project?: string;
     projectSearchDir?: string;
@@ -164,7 +168,6 @@ export const REGISTER_INSTANCE: unique symbol;
 // @public
 export interface RegisterOptions extends CreateOptions {
     experimentalResolverFeatures?: boolean;
-    preferTsExts?: boolean;
 }
 
 // @public (undocumented)
@@ -345,7 +348,6 @@ export interface TypeInfo {
 // @public
 export const VERSION: any;
 
-
 // (No @packageDocumentation comment for this package)
 
 ```
diff --git a/package-lock.json b/package-lock.json
index 3ad590ffe..c088fde40 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -402,40 +402,25 @@
       }
     },
     "@microsoft/api-extractor": {
-      "version": "7.15.2",
-      "resolved": "https://registry.npmjs.org/@microsoft/api-extractor/-/api-extractor-7.15.2.tgz",
-      "integrity": "sha512-/Y/n+QOc1vM6Vg3OAUByT/wXdZciE7jV3ay33+vxl3aKva5cNsuOauL14T7XQWUiLko3ilPwrcnFcEjzXpLsuA==",
+      "version": "7.19.4",
+      "resolved": "https://registry.npmjs.org/@microsoft/api-extractor/-/api-extractor-7.19.4.tgz",
+      "integrity": "sha512-iehC6YA3DGJvxTUaK7HUtQmP6hAQU07+Q/OR8TG4dVR6KpqCi9UPEVk8AgCvQkiK+6FbVEFQTx0qLuYk4EeuHg==",
       "dev": true,
       "requires": {
-        "@microsoft/api-extractor-model": "7.13.2",
+        "@microsoft/api-extractor-model": "7.15.3",
         "@microsoft/tsdoc": "0.13.2",
         "@microsoft/tsdoc-config": "~0.15.2",
-        "@rushstack/node-core-library": "3.38.0",
-        "@rushstack/rig-package": "0.2.12",
-        "@rushstack/ts-command-line": "4.7.10",
+        "@rushstack/node-core-library": "3.45.0",
+        "@rushstack/rig-package": "0.3.7",
+        "@rushstack/ts-command-line": "4.10.6",
         "colors": "~1.2.1",
         "lodash": "~4.17.15",
         "resolve": "~1.17.0",
         "semver": "~7.3.0",
         "source-map": "~0.6.1",
-        "typescript": "~4.2.4"
+        "typescript": "~4.5.2"
       },
       "dependencies": {
-        "colors": {
-          "version": "1.2.5",
-          "resolved": "https://registry.npmjs.org/colors/-/colors-1.2.5.tgz",
-          "integrity": "sha512-erNRLao/Y3Fv54qUa0LBB+//Uf3YwMUmdJinN20yMXm9zdKKqH9wt7R9IIVZ+K7ShzfpLV/Zg8+VyrBJYB4lpg==",
-          "dev": true
-        },
-        "lru-cache": {
-          "version": "6.0.0",
-          "resolved": "https://registry.npmjs.org/lru-cache/-/lru-cache-6.0.0.tgz",
-          "integrity": "sha512-Jo6dJ04CmSjuznwJSS3pUeWmd/H0ffTlkXXgwZi+eq1UCmqQwCh+eLsYOYCwY991i2Fah4h1BEMCx4qThGbsiA==",
-          "dev": true,
-          "requires": {
-            "yallist": "^4.0.0"
-          }
-        },
         "resolve": {
           "version": "1.17.0",
           "resolved": "https://registry.npmjs.org/resolve/-/resolve-1.17.0.tgz",
@@ -453,30 +438,18 @@
           "requires": {
             "lru-cache": "^6.0.0"
           }
-        },
-        "typescript": {
-          "version": "4.2.4",
-          "resolved": "https://registry.npmjs.org/typescript/-/typescript-4.2.4.tgz",
-          "integrity": "sha512-V+evlYHZnQkaz8TRBuxTA92yZBPotr5H+WhQ7bD3hZUndx5tGOa1fuCgeSjxAzM1RiN5IzvadIXTVefuuwZCRg==",
-          "dev": true
-        },
-        "yallist": {
-          "version": "4.0.0",
-          "resolved": "https://registry.npmjs.org/yallist/-/yallist-4.0.0.tgz",
-          "integrity": "sha512-3wdGidZyq5PB084XLES5TpOSRA3wjXAlIWMhum2kRcv/41Sn2emQ0dycQW4uZXLejwKvg6EsvbdlVL+FYEct7A==",
-          "dev": true
         }
       }
     },
     "@microsoft/api-extractor-model": {
-      "version": "7.13.2",
-      "resolved": "https://registry.npmjs.org/@microsoft/api-extractor-model/-/api-extractor-model-7.13.2.tgz",
-      "integrity": "sha512-gA9Q8q5TPM2YYk7rLinAv9KqcodrmRC13BVmNzLswjtFxpz13lRh0BmrqD01/sddGpGMIuWFYlfUM4VSWxnggA==",
+      "version": "7.15.3",
+      "resolved": "https://registry.npmjs.org/@microsoft/api-extractor-model/-/api-extractor-model-7.15.3.tgz",
+      "integrity": "sha512-NkSjolmSI7NGvbdz0Y7kjQfdpD+j9E5CwXTxEyjDqxd10MI7GXV8DnAsQ57GFJcgHKgTjf2aUnYfMJ9w3aMicw==",
       "dev": true,
       "requires": {
         "@microsoft/tsdoc": "0.13.2",
         "@microsoft/tsdoc-config": "~0.15.2",
-        "@rushstack/node-core-library": "3.38.0"
+        "@rushstack/node-core-library": "3.45.0"
       }
     },
     "@microsoft/tsdoc": {
@@ -551,12 +524,12 @@
       }
     },
     "@rushstack/node-core-library": {
-      "version": "3.38.0",
-      "resolved": "https://registry.npmjs.org/@rushstack/node-core-library/-/node-core-library-3.38.0.tgz",
-      "integrity": "sha512-cmvl0yQx8sSmbuXwiRYJi8TO+jpTtrLJQ8UmFHhKvgPVJAW8cV8dnpD1Xx/BvTGrJZ2XtRAIkAhBS9okBnap4w==",
+      "version": "3.45.0",
+      "resolved": "https://registry.npmjs.org/@rushstack/node-core-library/-/node-core-library-3.45.0.tgz",
+      "integrity": "sha512-YMuIJl19vQT1+g/OU9mLY6T5ZBT9uDlmeXExDQACpGuxTJW+LHNbk/lRX+eCApQI2eLBlaL4U68r3kZlqwbdmw==",
       "dev": true,
       "requires": {
-        "@types/node": "10.17.13",
+        "@types/node": "12.20.24",
         "colors": "~1.2.1",
         "fs-extra": "~7.0.1",
         "import-lazy": "~4.0.0",
@@ -564,56 +537,21 @@
         "resolve": "~1.17.0",
         "semver": "~7.3.0",
         "timsort": "~0.3.0",
-        "z-schema": "~3.18.3"
+        "z-schema": "~5.0.2"
       },
       "dependencies": {
         "@types/node": {
-          "version": "10.17.13",
-          "resolved": "https://registry.npmjs.org/@types/node/-/node-10.17.13.tgz",
-          "integrity": "sha512-pMCcqU2zT4TjqYFrWtYHKal7Sl30Ims6ulZ4UFXxI4xbtQqK/qqKwkDoBFCfooRqqmRu9vY3xaJRwxSh673aYg==",
+          "version": "12.20.24",
+          "resolved": "https://registry.npmjs.org/@types/node/-/node-12.20.24.tgz",
+          "integrity": "sha512-yxDeaQIAJlMav7fH5AQqPH1u8YIuhYJXYBzxaQ4PifsU0GDO38MSdmEDeRlIxrKbC6NbEaaEHDanWb+y30U8SQ==",
           "dev": true
         },
-        "colors": {
-          "version": "1.2.5",
-          "resolved": "https://registry.npmjs.org/colors/-/colors-1.2.5.tgz",
-          "integrity": "sha512-erNRLao/Y3Fv54qUa0LBB+//Uf3YwMUmdJinN20yMXm9zdKKqH9wt7R9IIVZ+K7ShzfpLV/Zg8+VyrBJYB4lpg==",
-          "dev": true
-        },
-        "fs-extra": {
-          "version": "7.0.1",
-          "resolved": "https://registry.npmjs.org/fs-extra/-/fs-extra-7.0.1.tgz",
-          "integrity": "sha512-YJDaCJZEnBmcbw13fvdAM9AwNOJwOzrE4pqMqBq5nFiEqXUqHwlK4B+3pUw6JNvfSPtX05xFHtYy/1ni01eGCw==",
-          "dev": true,
-          "requires": {
-            "graceful-fs": "^4.1.2",
-            "jsonfile": "^4.0.0",
-            "universalify": "^0.1.0"
-          }
-        },
         "import-lazy": {
           "version": "4.0.0",
           "resolved": "https://registry.npmjs.org/import-lazy/-/import-lazy-4.0.0.tgz",
           "integrity": "sha512-rKtvo6a868b5Hu3heneU+L4yEQ4jYKLtjpnPeUdK7h0yzXGmyBTypknlkCvHFBqfX9YlorEiMM6Dnq/5atfHkw==",
           "dev": true
         },
-        "jsonfile": {
-          "version": "4.0.0",
-          "resolved": "https://registry.npmjs.org/jsonfile/-/jsonfile-4.0.0.tgz",
-          "integrity": "sha1-h3Gq4HmbZAdrdmQPygWPnBDjPss=",
-          "dev": true,
-          "requires": {
-            "graceful-fs": "^4.1.6"
-          }
-        },
-        "lru-cache": {
-          "version": "6.0.0",
-          "resolved": "https://registry.npmjs.org/lru-cache/-/lru-cache-6.0.0.tgz",
-          "integrity": "sha512-Jo6dJ04CmSjuznwJSS3pUeWmd/H0ffTlkXXgwZi+eq1UCmqQwCh+eLsYOYCwY991i2Fah4h1BEMCx4qThGbsiA==",
-          "dev": true,
-          "requires": {
-            "yallist": "^4.0.0"
-          }
-        },
         "resolve": {
           "version": "1.17.0",
           "resolved": "https://registry.npmjs.org/resolve/-/resolve-1.17.0.tgz",
@@ -631,25 +569,13 @@
           "requires": {
             "lru-cache": "^6.0.0"
           }
-        },
-        "universalify": {
-          "version": "0.1.2",
-          "resolved": "https://registry.npmjs.org/universalify/-/universalify-0.1.2.tgz",
-          "integrity": "sha512-rBJeI5CXAlmy1pV+617WB9J63U6XcazHHF2f2dbJix4XzpUF0RS3Zbj0FGIOCAva5P/d/GBOYaACQ1w+0azUkg==",
-          "dev": true
-        },
-        "yallist": {
-          "version": "4.0.0",
-          "resolved": "https://registry.npmjs.org/yallist/-/yallist-4.0.0.tgz",
-          "integrity": "sha512-3wdGidZyq5PB084XLES5TpOSRA3wjXAlIWMhum2kRcv/41Sn2emQ0dycQW4uZXLejwKvg6EsvbdlVL+FYEct7A==",
-          "dev": true
         }
       }
     },
     "@rushstack/rig-package": {
-      "version": "0.2.12",
-      "resolved": "https://registry.npmjs.org/@rushstack/rig-package/-/rig-package-0.2.12.tgz",
-      "integrity": "sha512-nbePcvF8hQwv0ql9aeQxcaMPK/h1OLAC00W7fWCRWIvD2MchZOE8jumIIr66HGrfG2X1sw++m/ZYI4D+BM5ovQ==",
+      "version": "0.3.7",
+      "resolved": "https://registry.npmjs.org/@rushstack/rig-package/-/rig-package-0.3.7.tgz",
+      "integrity": "sha512-pzMsTSeTC8IiZ6EJLr53gGMvhT4oLWH+hxD7907cHyWuIUlEXFtu/2pK25vUQT13nKp5DJCWxXyYoGRk/h6rtA==",
       "dev": true,
       "requires": {
         "resolve": "~1.17.0",
@@ -674,23 +600,15 @@
       }
     },
     "@rushstack/ts-command-line": {
-      "version": "4.7.10",
-      "resolved": "https://registry.npmjs.org/@rushstack/ts-command-line/-/ts-command-line-4.7.10.tgz",
-      "integrity": "sha512-8t042g8eerypNOEcdpxwRA3uCmz0duMo21rG4Z2mdz7JxJeylDmzjlU3wDdef2t3P1Z61JCdZB6fbm1Mh0zi7w==",
+      "version": "4.10.6",
+      "resolved": "https://registry.npmjs.org/@rushstack/ts-command-line/-/ts-command-line-4.10.6.tgz",
+      "integrity": "sha512-Y3GkUag39sTIlukDg9mUp8MCHrrlJ27POrBNRQGc/uF+VVgX8M7zMzHch5zP6O1QVquWgD7Engdpn2piPYaS/g==",
       "dev": true,
       "requires": {
         "@types/argparse": "1.0.38",
         "argparse": "~1.0.9",
         "colors": "~1.2.1",
         "string-argv": "~0.3.1"
-      },
-      "dependencies": {
-        "colors": {
-          "version": "1.2.5",
-          "resolved": "https://registry.npmjs.org/colors/-/colors-1.2.5.tgz",
-          "integrity": "sha512-erNRLao/Y3Fv54qUa0LBB+//Uf3YwMUmdJinN20yMXm9zdKKqH9wt7R9IIVZ+K7ShzfpLV/Zg8+VyrBJYB4lpg==",
-          "dev": true
-        }
       }
     },
     "@sindresorhus/is": {
@@ -1860,6 +1778,12 @@
       "integrity": "sha1-p9BVi9icQveV3UIyj3QIMcpTvCU=",
       "dev": true
     },
+    "colors": {
+      "version": "1.2.5",
+      "resolved": "https://registry.npmjs.org/colors/-/colors-1.2.5.tgz",
+      "integrity": "sha512-erNRLao/Y3Fv54qUa0LBB+//Uf3YwMUmdJinN20yMXm9zdKKqH9wt7R9IIVZ+K7ShzfpLV/Zg8+VyrBJYB4lpg==",
+      "dev": true
+    },
     "commander": {
       "version": "2.20.3",
       "resolved": "https://registry.npmjs.org/commander/-/commander-2.20.3.tgz",
@@ -2376,6 +2300,17 @@
       "integrity": "sha512-33X7H/wdfO99GdRLLgkjUrD4geAFdq/Uv0kl3HD4da6HDixd2GUg8Mw7dahLCV9r/EARkmtYBB6Tch4EEokFTQ==",
       "dev": true
     },
+    "fs-extra": {
+      "version": "7.0.1",
+      "resolved": "https://registry.npmjs.org/fs-extra/-/fs-extra-7.0.1.tgz",
+      "integrity": "sha512-YJDaCJZEnBmcbw13fvdAM9AwNOJwOzrE4pqMqBq5nFiEqXUqHwlK4B+3pUw6JNvfSPtX05xFHtYy/1ni01eGCw==",
+      "dev": true,
+      "requires": {
+        "graceful-fs": "^4.1.2",
+        "jsonfile": "^4.0.0",
+        "universalify": "^0.1.0"
+      }
+    },
     "fs.realpath": {
       "version": "1.0.0",
       "resolved": "https://registry.npmjs.org/fs.realpath/-/fs.realpath-1.0.0.tgz",
@@ -3031,6 +2966,15 @@
       "integrity": "sha512-fQzRfAbIBnR0IQvftw9FJveWiHp72Fg20giDrHz6TdfB12UH/uue0D3hm57UB5KgAVuniLMCaS8P1IMj9NR7cA==",
       "dev": true
     },
+    "jsonfile": {
+      "version": "4.0.0",
+      "resolved": "https://registry.npmjs.org/jsonfile/-/jsonfile-4.0.0.tgz",
+      "integrity": "sha1-h3Gq4HmbZAdrdmQPygWPnBDjPss=",
+      "dev": true,
+      "requires": {
+        "graceful-fs": "^4.1.6"
+      }
+    },
     "keyv": {
       "version": "3.1.0",
       "resolved": "https://registry.npmjs.org/keyv/-/keyv-3.1.0.tgz",
@@ -3131,6 +3075,15 @@
       "integrity": "sha512-G2Lj61tXDnVFFOi8VZds+SoQjtQC3dgokKdDG2mTm1tx4m50NUHBOZSBwQQHyy0V12A0JTG4icfZQH+xPyh8VA==",
       "dev": true
     },
+    "lru-cache": {
+      "version": "6.0.0",
+      "resolved": "https://registry.npmjs.org/lru-cache/-/lru-cache-6.0.0.tgz",
+      "integrity": "sha512-Jo6dJ04CmSjuznwJSS3pUeWmd/H0ffTlkXXgwZi+eq1UCmqQwCh+eLsYOYCwY991i2Fah4h1BEMCx4qThGbsiA==",
+      "dev": true,
+      "requires": {
+        "yallist": "^4.0.0"
+      }
+    },
     "lunr": {
       "version": "2.3.9",
       "resolved": "https://registry.npmjs.org/lunr/-/lunr-2.3.9.tgz",
@@ -4767,6 +4720,12 @@
         "crypto-random-string": "^2.0.0"
       }
     },
+    "universalify": {
+      "version": "0.1.2",
+      "resolved": "https://registry.npmjs.org/universalify/-/universalify-0.1.2.tgz",
+      "integrity": "sha512-rBJeI5CXAlmy1pV+617WB9J63U6XcazHHF2f2dbJix4XzpUF0RS3Zbj0FGIOCAva5P/d/GBOYaACQ1w+0azUkg==",
+      "dev": true
+    },
     "update-notifier": {
       "version": "5.1.0",
       "resolved": "https://registry.npmjs.org/update-notifier/-/update-notifier-5.1.0.tgz",
@@ -4873,9 +4832,9 @@
       }
     },
     "validator": {
-      "version": "8.2.0",
-      "resolved": "https://registry.npmjs.org/validator/-/validator-8.2.0.tgz",
-      "integrity": "sha512-Yw5wW34fSv5spzTXNkokD6S6/Oq92d8q/t14TqsS3fAiA1RYnxSFSIZ+CY3n6PGGRCq5HhJTSepQvFUS2QUDxA==",
+      "version": "13.7.0",
+      "resolved": "https://registry.npmjs.org/validator/-/validator-13.7.0.tgz",
+      "integrity": "sha512-nYXQLCBkpJ8X6ltALua9dRrZDHVYxjJ1wgskNt1lH9fzGjs3tgojGSCBjmEPwkWS1y29+DrizMTW19Pr9uB2nw==",
       "dev": true
     },
     "vscode-oniguruma": {
@@ -5021,6 +4980,12 @@
       "integrity": "sha1-le+U+F7MgdAHwmThkKEg8KPIVms=",
       "dev": true
     },
+    "yallist": {
+      "version": "4.0.0",
+      "resolved": "https://registry.npmjs.org/yallist/-/yallist-4.0.0.tgz",
+      "integrity": "sha512-3wdGidZyq5PB084XLES5TpOSRA3wjXAlIWMhum2kRcv/41Sn2emQ0dycQW4uZXLejwKvg6EsvbdlVL+FYEct7A==",
+      "dev": true
+    },
     "yargs": {
       "version": "17.3.1",
       "resolved": "https://registry.npmjs.org/yargs/-/yargs-17.3.1.tgz",
@@ -5056,15 +5021,15 @@
       "integrity": "sha1-HodAGgnXZ8HV6rJqbkwYUYLS61A="
     },
     "z-schema": {
-      "version": "3.18.4",
-      "resolved": "https://registry.npmjs.org/z-schema/-/z-schema-3.18.4.tgz",
-      "integrity": "sha512-DUOKC/IhbkdLKKiV89gw9DUauTV8U/8yJl1sjf6MtDmzevLKOF2duNJ495S3MFVjqZarr+qNGCPbkg4mu4PpLw==",
+      "version": "5.0.2",
+      "resolved": "https://registry.npmjs.org/z-schema/-/z-schema-5.0.2.tgz",
+      "integrity": "sha512-40TH47ukMHq5HrzkeVE40Ad7eIDKaRV2b+Qpi2prLc9X9eFJFzV7tMe5aH12e6avaSS/u5l653EQOv+J9PirPw==",
       "dev": true,
       "requires": {
         "commander": "^2.7.1",
-        "lodash.get": "^4.0.0",
-        "lodash.isequal": "^4.0.0",
-        "validator": "^8.0.0"
+        "lodash.get": "^4.4.2",
+        "lodash.isequal": "^4.5.0",
+        "validator": "^13.7.0"
       }
     }
   }
diff --git a/package.json b/package.json
index 84a5ad16d..e161c72d8 100644
--- a/package.json
+++ b/package.json
@@ -110,7 +110,7 @@
   },
   "homepage": "https://typestrong.org/ts-node",
   "devDependencies": {
-    "@microsoft/api-extractor": "^7.15.2",
+    "@microsoft/api-extractor": "^7.19.4",
     "@swc/core": ">=1.2.50",
     "@swc/wasm": ">=1.2.50",
     "@types/chai": "^4.0.4",
diff --git a/src/transpilers/types.ts b/src/transpilers/types.ts
index f5eeff5bd..641deb4c1 100644
--- a/src/transpilers/types.ts
+++ b/src/transpilers/types.ts
@@ -25,6 +25,8 @@ export interface CreateTranspilerOptions {
   /**
    * If `"transpiler"` option is declared in an "extends" tsconfig, this path might be different than
    * the `projectLocalResolveHelper`
+   *
+   * @internal
    */
   transpilerConfigLocalResolveHelper: ProjectLocalResolveHelper;
 }