Sequelize with ESM and a large number of tables

[aarontravass]

I am trying to make Sequelize work with ESM (Node 20, "target": "ESNext", "module": "ESNext", "moduleResolution": "Bundler") for a new project. Our production database has nearly 90 data tables (PostgreSQL) with various inter-dependencies and I happen to run into ESM's circular dependency issue:

ReferenceError: Cannot access '####' before initialization
    at <anonymous> (####)
    at ModuleJob.run (node:internal/modules/esm/module_job:217:25)
    at async ModuleLoader.import (node:internal/modules/esm/loader:316:24)
    at async loadESM (node:internal/process/esm_loader:34:7)
    at async handleMainPromise (node:internal/modules/run_main:66:12)

Node.js v20.9.0

I have come across a solution that involved using a single index.ts file and adding all associations in that file but it does not seem like a scalable option and I don't wish to move to commonjs. Is there any other solution that people are using successfully with a large number of tables?