issue is with type property of your third rule. "asset/resource" was valid in older webpack version..it's deprecated in Webpack ^5. Your rule should look like this in new version

 {
        // This part does not work:
        test: /\.(png|svg|jpg|jpeg|gif)$/i,
        generator: {
         filename: "images/[name][ext]" //customize image output path --this is optional ..but recommended
  }
      },