com.facebook.jni.CppException: Cannot read property '__workletHash' of undefined while using react-native-reanimated

Question

I recently started using react-native-animated and react-native-gesture-handler in my app. I get the following errors in release mode while using react-native-animated hooks/components.

iOS

libc++abi: terminating due to uncaught exception of type facebook::jsi::JSError: undefined is not an object (evaluating 'fun.__workletHash')

runOnJS@
runOnJS@[native code]
setupConsole@
setupConsole@[native code]
anonymous@
anonymous@[native code]
anonymous@
anonymous@[native code]
(lldb) 

Android

FATAL EXCEPTION: main
  Process: com.myapp, PID: 4977
  com.facebook.jni.CppException: Cannot read property '__workletHash' of undefined
  
  TypeError: Cannot read property '__workletHash' of undefined
      at runOnJS (JavaScript:1:276)
      at setupConsole (JavaScript:1:187)
      at anonymous (JavaScript:1:163)
      at apply (native)
      at anonymous (JavaScript:1:65)
    at com.swmansion.reanimated.AndroidUIScheduler.triggerUI(Native Method)
    at com.swmansion.reanimated.AndroidUIScheduler$1.run(AndroidUIScheduler.java:24)
    at com.swmansion.reanimated.AndroidUIScheduler$2.runGuarded(AndroidUIScheduler.java:43)
    at com.facebook.react.bridge.GuardedRunnable.run(GuardedRunnable.java:30)
    at android.os.Handler.handleCallback(Handler.java:942)
    at android.os.Handler.dispatchMessage(Handler.java:99)
    at android.os.Looper.loopOnce(Looper.java:201)
    at android.os.Looper.loop(Looper.java:288)
    at android.app.ActivityThread.main(ActivityThread.java:7872)
    at java.lang.reflect.Method.invoke(Native Method)
    at com.android.internal.os.RuntimeInit$MethodAndArgsCaller.run(RuntimeInit.java:548)
    at com.android.internal.os.ZygoteInit.main(ZygoteInit.java:936)

The issue only happens in release mode. The app works fine in debug mode. So, I strongly feel that it has something to do with the babel plugin setup for react-native-animated. My app is a monorepo using yarn workspaces. I have added the required 'react-native-reanimated/plugin' as the last plugin in babel.config.js but I feel that it is not run properly in release mode due to the monorepo setup.

If someone has any idea how to resolve this problem, please let me know.