React Native Monorepo project doesn't work on release build

I am experimenting Monorepo using yarn workspaces method containing a sample react-native project which is configured and it works fine in debug build. When I created a release build and run the app, it crashes as soon as it opens. I have provided the log and the code below.

Android Studio Logcat:

2022-05-16 23:18:08.466 6620-6644/? E/AndroidRuntime: FATAL EXCEPTION: create_react_contextProcess: com.sample.mobile, PID: 6620java.lang.RuntimeException: Unable to load script. Make sure you're either running Metro (run 'npx react-native start') or that your bundle 'index.android.bundle' is packaged correctly for release.    at com.facebook.react.bridge.CatalystInstanceImpl.jniLoadScriptFromAssets(Native Method)    at com.facebook.react.bridge.CatalystInstanceImpl.loadScriptFromAssets(CatalystInstanceImpl.java:248)    at com.facebook.react.bridge.JSBundleLoader$1.loadScript(JSBundleLoader.java:29)    at com.facebook.react.bridge.CatalystInstanceImpl.runJSBundle(CatalystInstanceImpl.java:277)    at com.facebook.react.ReactInstanceManager.createReactContext(ReactInstanceManager.java:1422)    at com.facebook.react.ReactInstanceManager.access$1200(ReactInstanceManager.java:138)    at com.facebook.react.ReactInstanceManager$5.run(ReactInstanceManager.java:1111)    at java.lang.Thread.run(Thread.java:923)

Monorepo structure:

monorepo    |    |___Common    |    |___Mobile

Monorepo's root package.json:

{"name": "monorepo","version": "1.0.0","description": "","main": "index.js","scripts": {"test": "echo \"Error: no test specified\" && exit 1"   },"license": "UNLICENSED","workspaces": {"packages": ["packages/*"     ],"nohoist": ["**/react-native","**/react-native/**"     ]   },"references": [     {"path": "packages/Common"     },     {"path": "packages/Mobile"     }   ],"private": true }

Common's root package.json

{"name": "common","version": "1.0.0","description": "","scripts": {"test": "echo \"Error: no test specified\" && exit 1"   },"license": "UNLICENSED","devDependencies": {"@types/react": "^18.0.9","@types/react-native": "^0.67.7"   } }

React Native's package.json:

..."peerDependencies": {"common": "0.0.1" },...

React Native's metro.config.js

const path = require('path');module.exports = {    transformer: {        getTransformOptions: async () => ({            transform: {                experimentalImportSupport: false,                inlineRequires: true,            },        }),    },    resolver: {        sourceExts: ['jsx', 'js', 'ts', 'tsx', 'mjs'],        extraNodeModules: new Proxy(            {},            {              get: (target, name) => {                return path.join(__dirname, `node_modules/${name}`);              },            },          ),    },    watchFolders: [        path.resolve(__dirname),        path.resolve(__dirname.replace('Mobile', 'Common'))    ],};

Any Suggestions?