diff --git a/babel.config.js b/babel.config.js
index d57134718f4d..ae3026b99996 100644
--- a/babel.config.js
+++ b/babel.config.js
@@ -725,6 +725,8 @@ function pluginAddImportExtension() {
         if (
           source.value.startsWith("lodash/") ||
           source.value.startsWith("core-js-compat/") ||
+          source.value === "core-js/stable/index" ||
+          source.value === "regenerator-runtime/runtime" ||
           source.value === "babel-plugin-dynamic-import-node/utils"
         ) {
           source.value += ".js";
diff --git a/jest.config.js b/jest.config.js
index 984394e6f8e0..72e4bfb09663 100644
--- a/jest.config.js
+++ b/jest.config.js
@@ -43,9 +43,7 @@ module.exports = {
     // Some tests require internal files of bundled packages, which are not available
     // in production builds. They are marked using the .skip-bundled.js extension.
     ...(isPublishBundle ? ["\\.skip-bundled\\.js$"] : []),
-    ...(LIB_USE_ESM
-      ? ["/babel-node/", "/babel-register/", "/babel-helpers/"]
-      : []),
+    ...(LIB_USE_ESM ? ["/babel-helpers/"] : []),
   ],
   testEnvironment: "node",
   transformIgnorePatterns: [
diff --git a/packages/babel-node/src/_babel-node.ts b/packages/babel-node/src/_babel-node.ts
index 979ec4433816..ce9be2a90012 100644
--- a/packages/babel-node/src/_babel-node.ts
+++ b/packages/babel-node/src/_babel-node.ts
@@ -5,7 +5,7 @@ import path from "path";
 import repl from "repl";
 import * as babel from "@babel/core";
 import vm from "vm";
-import "core-js/stable";
+import "core-js/stable/index";
 import "regenerator-runtime/runtime";
 import register from "@babel/register";
 import { fileURLToPath } from "url";
diff --git a/packages/babel-node/test/fixtures/cli/--config-file/in-files/index.js b/packages/babel-node/test/fixtures/cli/--config-file/in-files/index.js
index 4d4dfd2c0f57..29c671ec0164 100644
--- a/packages/babel-node/test/fixtures/cli/--config-file/in-files/index.js
+++ b/packages/babel-node/test/fixtures/cli/--config-file/in-files/index.js
@@ -1,3 +1,3 @@
 // See https://github.com/babel/babel/pull/14025#issuecomment-986296424
-// for the reason behind using setImmediate.
-setImmediate(() => console.log("foo"));
+// for the reason behind using setTimeout.
+setTimeout(() => console.log("foo"), 50);
diff --git a/packages/babel-node/test/fixtures/cli/--env-name/in-files/index.js b/packages/babel-node/test/fixtures/cli/--env-name/in-files/index.js
index 4d4dfd2c0f57..29c671ec0164 100644
--- a/packages/babel-node/test/fixtures/cli/--env-name/in-files/index.js
+++ b/packages/babel-node/test/fixtures/cli/--env-name/in-files/index.js
@@ -1,3 +1,3 @@
 // See https://github.com/babel/babel/pull/14025#issuecomment-986296424
-// for the reason behind using setImmediate.
-setImmediate(() => console.log("foo"));
+// for the reason behind using setTimeout.
+setTimeout(() => console.log("foo"), 50);
diff --git a/packages/babel-node/test/fixtures/cli/--presets/in-files/index.js b/packages/babel-node/test/fixtures/cli/--presets/in-files/index.js
index 4d4dfd2c0f57..29c671ec0164 100644
--- a/packages/babel-node/test/fixtures/cli/--presets/in-files/index.js
+++ b/packages/babel-node/test/fixtures/cli/--presets/in-files/index.js
@@ -1,3 +1,3 @@
 // See https://github.com/babel/babel/pull/14025#issuecomment-986296424
-// for the reason behind using setImmediate.
-setImmediate(() => console.log("foo"));
+// for the reason behind using setTimeout.
+setTimeout(() => console.log("foo"), 50);
diff --git a/packages/babel-node/test/fixtures/cli/-b/in-files/index.js b/packages/babel-node/test/fixtures/cli/-b/in-files/index.js
index 4d4dfd2c0f57..29c671ec0164 100644
--- a/packages/babel-node/test/fixtures/cli/-b/in-files/index.js
+++ b/packages/babel-node/test/fixtures/cli/-b/in-files/index.js
@@ -1,3 +1,3 @@
 // See https://github.com/babel/babel/pull/14025#issuecomment-986296424
-// for the reason behind using setImmediate.
-setImmediate(() => console.log("foo"));
+// for the reason behind using setTimeout.
+setTimeout(() => console.log("foo"), 50);
diff --git a/packages/babel-register/package.json b/packages/babel-register/package.json
index 9275fc8640fa..11ab440c47f1 100644
--- a/packages/babel-register/package.json
+++ b/packages/babel-register/package.json
@@ -44,12 +44,6 @@
       {
         "exports": null
       }
-    ],
-    "USE_ESM": [
-      {
-        "type": "module"
-      },
-      null
     ]
   },
   "exports": {
diff --git a/packages/babel-register/src/experimental-worker.js b/packages/babel-register/src/experimental-worker.js
index 4f26ec5d88d4..eb299ee1bf52 100644
--- a/packages/babel-register/src/experimental-worker.js
+++ b/packages/babel-register/src/experimental-worker.js
@@ -13,7 +13,11 @@ if (major < 12 || (major === 12 && minor < 3)) {
 const hook = require("./hook");
 const { WorkerClient } = require("./worker-client");
 
-const register = hook.register.bind(null, new WorkerClient());
+let client;
+function register(opts) {
+  client ||= new WorkerClient();
+  return hook.register(client, opts);
+}
 
 module.exports = Object.assign(register, {
   revert: hook.revert,
diff --git a/packages/babel-register/src/index.js b/packages/babel-register/src/index.js
index 3b827d75af20..87cfd91a6801 100644
--- a/packages/babel-register/src/index.js
+++ b/packages/babel-register/src/index.js
@@ -4,7 +4,9 @@
  * from a compiled Babel import.
  */
 
-if (process.env.BABEL_8_BREAKING) {
+if (USE_ESM) {
+  module.exports = require("./experimental-worker");
+} else if (process.env.BABEL_8_BREAKING) {
   module.exports = require("./experimental-worker");
 } else {
   exports = module.exports = function (...args) {
diff --git a/packages/babel-register/src/worker/babel-core.js b/packages/babel-register/src/worker/babel-core.js
index 06197e85977b..bf770b010e19 100644
--- a/packages/babel-register/src/worker/babel-core.js
+++ b/packages/babel-register/src/worker/babel-core.js
@@ -1,3 +1,5 @@
+const cache = require("./cache");
+
 function initialize(babel) {
   exports.init = null;
   exports.version = babel.version;
@@ -10,11 +12,13 @@ function initialize(babel) {
     exports.OptionManager = babel.OptionManager;
     exports.transformSync = babel.transformSync;
   }
+
+  cache.initializeCacheFilename();
 }
 
-if (process.env.BABEL_8_BREAKING) {
+if (USE_ESM) {
   // @ts-expect-error CJS-ESM interop.
-  exports.init = import("@babel/core").then(ns => initialize(ns.default));
+  exports.init = import("@babel/core").then(initialize);
 } else {
   initialize(require("@babel/core"));
 }
diff --git a/packages/babel-register/src/worker/cache.js b/packages/babel-register/src/worker/cache.js
index 6f818b1a42b3..d8226e0cfd0c 100644
--- a/packages/babel-register/src/worker/cache.js
+++ b/packages/babel-register/src/worker/cache.js
@@ -3,17 +3,21 @@
 const path = require("path");
 const fs = require("fs");
 const os = require("os");
-const babel = require("@babel/core");
 const findCacheDir = require("find-cache-dir");
 
-const DEFAULT_CACHE_DIR =
-  findCacheDir({ name: "@babel/register" }) || os.homedir() || os.tmpdir();
-const DEFAULT_FILENAME = path.join(
-  DEFAULT_CACHE_DIR,
-  `.babel.${babel.version}.${babel.getEnv()}.json`,
-);
+let FILENAME = process.env.BABEL_CACHE_PATH;
+
+// This function needs to be exported before requiring ./babel-core, because
+// there is a circular dependency between these two files.
+exports.initializeCacheFilename = function () {
+  FILENAME ||= path.join(
+    findCacheDir({ name: "@babel/register" }) || os.homedir() || os.tmpdir(),
+    `.babel.${babel.version}.${babel.getEnv()}.json`,
+  );
+};
+
+const babel = require("./babel-core");
 
-const FILENAME = process.env.BABEL_CACHE_PATH || DEFAULT_FILENAME;
 let data = {};
 
 let cacheDirty = false;
diff --git a/packages/babel-register/test/index.js b/packages/babel-register/test/index.js
index 99ea1749ed9f..e13fbb6a572f 100644
--- a/packages/babel-register/test/index.js
+++ b/packages/babel-register/test/index.js
@@ -36,6 +36,14 @@ function resetCache() {
 
 const OLD_JEST_MOCKS = !!jest.doMock;
 
+let USE_ESM = false;
+try {
+  const type = fs
+    .readFileSync(new URL("../../../.module-type", import.meta.url), "utf-8")
+    .trim();
+  USE_ESM = type === "module";
+} catch {}
+
 describe("@babel/register", function () {
   let currentHook, currentOptions, sourceMapSupport;
 
@@ -86,7 +94,7 @@ describe("@babel/register", function () {
     });
   }
 
-  if (!process.env.BABEL_8_BREAKING) {
+  if (!USE_ESM && !process.env.BABEL_8_BREAKING) {
     describe("babel 7", () => {
       if (!OLD_JEST_MOCKS) {
         beforeEach(() => {
diff --git a/scripts/set-module-type.js b/scripts/set-module-type.js
index a8062dc4533a..fe5b7dd25fd6 100755
--- a/scripts/set-module-type.js
+++ b/scripts/set-module-type.js
@@ -31,6 +31,11 @@ if (moduleType === "clean") {
       fs.statSync(dir).isDirectory() && fs.existsSync(`${dir}/package.json`)
   )
   .forEach(dir => {
+    if (dir.endsWith("babel-register")) {
+      // This is a CJS package
+      return;
+    }
+
     if (moduleType === "clean") {
       try {
         fs.unlinkSync(`${dir}/lib/package.json`);