Reproduction link or steps
REPL
What is expected?
To have the output the same with transform.jsx: 'preserve' (REPL).
What is actually happening?
The following error happens:
[UNTRANSPILED_SYNTAX] Error: JSX syntax should be transpiled before bundling. Found untranspiled JSX in "index.tsx"
System Info
Any additional comments?
Probably #8324 fixes this. Making an issue to track