Getting error "Support for the experimental syntax 'classProperties' isn't currently enabled " when removing #babel/plugin-proposal-class-properties - babeljs

Question

I would like to remove the #babel/plugin-proposal-class-properties plugin as we are now targeting chrome 79 which supports class properties. I would imagine that removing this plugin shouldn't be a problem because we no longer need babel to transpile that code.
When I remove the plugin from the plugins section of the babelrc file, I am getting an error -
Module build failed (from ./node_modules/babel-loader/lib/index.js), ...
"Support for the experimental syntax 'classProperties' isn't currently enabled "
Relevant Package.json entries:
"#babel/core": "^7.0.0",
"#babel/preset-env": "^7.0.0",
"webpack": "4.40.0",
Here is my .babelrc file
{
"presets": [
"#babel/preset-react",
[
"#babel/preset-env",
{
"targets": {
"chrome": 79
}
}
],
"#babel/preset-typescript"
],
"plugins": [
"babel-plugin-styled-components"
]
}
Here is my webpack config, relevant loader configuration:
{
test: /\.(js(x)?|ts(x)?)$/,
exclude: [/node_modules/],
use: [
{
loader: 'babel-loader',
options: {
cacheDirectory: true
}
}
]
},
Any help or insight would be appreciated.