Arrow function not getting transpiled inside node_modules

Bug Report

Current behavior I am using a 3rd party library called joi-date as follows const joiDate = require(‘@hapi/joi-date’);

The issue is The arrow function used in @hapi/joi-date is not getting transpiled in IE11 due to which my app does not work in IE11. i attached the screenshot below. I am using babel7 and webpack4

Input Code

Here is my webpack config
      {
        test: /\.js$/,
        exclude: /node_modules\/(?!.*hapi\/joi-date)/,
        loader: 'babel-loader',
      },
Tried using function version as well but did not help
        exclude: function(modulePath) {
          return /node_modules/.test(modulePath) &&
              !/node_modules\/@hapi\/joi-date/.test(modulePath);
        },

Expected behavior Babel-loader should convert the arrow function into es2015 style function

Babel Configuration (babel.config.js, .babelrc, package.json#babel, cli command, .eslintrc)

• Filename: .babelrc

{
.babelrc entries
{
  "presets": [
    "@babel/env",
    "@babel/react",
    "@babel/preset-flow"
  ],
  "env": {
    "development": {
      "plugins": [
        "react-hot-loader/babel"
      ]
    }
  },
  "plugins": [
    [
      "@babel/plugin-transform-runtime",
      {
        "corejs": 2,
        "helpers": false,
        "regenerator": true
      }
    ],
    "@babel/plugin-syntax-dynamic-import",
    "@babel/plugin-syntax-import-meta",
    "@babel/plugin-proposal-class-properties",
    "@babel/plugin-proposal-json-strings",
    [
      "@babel/plugin-proposal-decorators",
      {
        "legacy": true
      }
    ],
    "@babel/plugin-proposal-function-sent",
    "@babel/plugin-proposal-export-namespace-from",
    "@babel/plugin-proposal-numeric-separator",
    "@babel/plugin-proposal-throw-expressions",
    "@babel/plugin-proposal-export-default-from",
    "@babel/plugin-proposal-logical-assignment-operators",
    "@babel/plugin-proposal-optional-chaining",
    [
      "@babel/plugin-proposal-pipeline-operator",
      {
        "proposal": "minimal"
      }
    ],
    "@babel/plugin-proposal-nullish-coalescing-operator",
    "@babel/plugin-proposal-do-expressions",
    "@babel/plugin-proposal-function-bind"
  ]
}
}

Environment

• Babel version(s): 7.0.0
• Node/npm version: 12.16.3
• OS: OSX 10.13.4
• Monorepo:No
• How you are using Babel: loader

Additional context

[JLHwung]

If you are running webpack on Windows, see also https://github.com/babel/babel-loader/pull/883/files#diff-b335630551682c19a781afebcf4d07bf978fb1f8ac04c6bf87428ed5106870f5R101 for how to include @hapi/joi-date but exclude all the other node_modules.

[AjayPoshak]

@brvenkat If you change your node_modules exclusion regex to exclude: [/node_modules\/(?!(@hapi\/joi-date|@hapi\/joi)\/).*/], then it would start transpiling these modules.