I'd like to build html/index.pug into dist/index.html using Webpack 5.

With Webpack 4 I used to use file-loader for this, but it seems deprecated in Webpack 5: no mentions of it in the Loaders page. The Webpack 5 solutions seems to be using Asset Modules: that page makes it clear that file-loader was the old solution, for Webpack 4.

So far I failed to get it to work though. These are a couple of configurations I tried in my webpack.config.js's module.rules:

1. Using the pug-loader only

{
    test:path.resolve('./html/index.pug'),
    type:'asset/resource',
    loader:'pug-loader',
    generator:{filename:'index.html'}}
}

This creates a dist/index.html file which contains the following:

var pug = require("!../node_modules/pug-runtime/index.js");

function template(locals) {var pug_html = "", pug_mixins = {}, pug_interp;pug_html = pug_html + "\u003C!DOCTYPE html\u003E\u003Chtml lang=\"en\"\u003E\u003Chead\u003E\u003Ctitle\u003E" + (pug.escape(null == (pug_interp = "Hello World") ? "" : pug_interp)) + "\u003C\u002Ftitle\u003E\u003C\u002Fhead\u003E\u003Cbody\u003E\u003Cp\u003EHello World\u003C\u002Fp\u003E\u003C\u002Fbody\u003E\u003C\u002Fhtml\u003E";;return pug_html;};
module.exports = template;

It looks like pug-loader converts the pug file into a JavaScript module which generates the html code when it's called. What I want is the resulting HTML code, instead of a JS function that generates it.

2. Using val-loader to execute the JavaScript module generated above

{
    test:path.resolve('./html/index.pug'),
    type:'asset/resource',
    use:['val-loader','pug-loader'],
    generator:{filename:'index.html'}}
}

This doesn't work either: Webpack throws an error when it tries to build dist/index.pug:

ERROR in ./html/index.pug
Module build failed (from ./node_modules/val-loader/dist/cjs.js):
Error: Unable to execute "/home/bluenebula/work/webpack5-test/html/index.pug": Error: Cannot find module '!../node_modules/pug-runtime/index.js'

Note that /home/bluenebula/work/webpack5-test/node_modules/pug-runtime/index.js does exist.

Question

1. Are Asset Modules the right tool to generate an HTML file from a Pug one using Webpack 5?

2. What else am I supposed to do?

3. How do I get it to work?