I am migrating an existing Nuxt application to Nuxt 3 and I cannot get rid of the error above. Any idea on fixing this issue? The console output looks like the following:

node_modules/bootstrap-vue/esm/vue.js:1:7: error: No matching export in "node_modules/vue/dist/vue.runtime.esm-bundler.js" for import "default"

1 │ import Vue from 'vue';

ERROR 18:38:49 [vite] error while updating dependencies: 18:38:49
Error: Build failed with 172 errors: node_modules/bootstrap-vue/esm/vue.js:1:7: error: No matching export in "node_modules/vue/dist/vue.runtime.esm-bundler.js" for import "default" node_modules/bootstrap-vue/esm/vue.js:1:7: error: No matching export in "node_modules/vue/dist/vue.runtime.esm-bundler.js" for import "default" node_modules/bootstrap-vue/esm/vue.js:1:7: error: No matching export in "node_modules/vue/dist/vue.runtime.esm-bundler.js" for import "default" node_modules/bootstrap-vue/esm/vue.js:1:7: error: No matching export in "node_modules/vue/dist/vue.runtime.esm-bundler.js" for import "default" node_modules/bootstrap-vue/esm/vue.js:1:7: error: No matching export in "node_modules/vue/dist/vue.runtime.esm-bundler.js" for import "default"

at failureErrorWithLog (nuxt-template-3\node_modules\esbuild\lib\main.js:1493:15)
at nuxt-template-3\node_modules\esbuild\lib\main.js:1151:28
at runOnEndCallbacks (nuxt-template-3\node_modules\esbuild\lib\main.js:941:63)
at buildResponseToResult (nuxt-template-3\node_modules\esbuild\lib\main.js:1149:7)
at nuxt-template-3\node_modules\esbuild\lib\main.js:1258:14
at nuxt-template-3\node_modules\esbuild\lib\main.js:629:9
at handleIncomingPacket (nuxt-template-3\node_modules\esbuild\lib\main.js:726:9)
at Socket.readFromStdout (nuxt-template-3\node_modules\esbuild\lib\main.js:596:7)
at Socket.emit (events.js:315:20)
at Socket.EventEmitter.emit (domain.js:467:12)