ts-loader outDir issue

UPDATE:
Intendend behaviour since 5.0.0 as mentioned in TypeStrong/ts-loader#822. Adding the dist folder to outDir from webpack.config.js (or tsconfig.json) fixes the issue.

module: {
    rules: [
        {
            test: /\.tsx?$/,
            loader: "ts-loader",
            options: {
                compilerOptions: {
                    outDir: './dist'
                }
            }
        }
    ]
},

Issue:
Versions 4.3.0-4.5.0 of ts-loader correctly place the typescript declaration files inside the dist folder when "outDir" is set to "./".
However upgrading ts-loader to 5.0.0-5.3.0 will result in the d.ts files being spit out in the root directory of the project rather than in the dist folder.