Typescript for React createContext and useContext

I have a React Context file with a stateful Provider to manage cookie preferences. It all works as expected but I'm having 1 issue with Typescript. My file looks like this:

import Cookies from 'js-cookie';
import React, { Component, ReactNode } from 'react';

interface Props {
  children: ReactNode | ReactNode[];
  functionalCookiesOn: boolean;
  performanceCookiesOn: boolean;
};

interface State {
  functionalCookiesOn: boolean;
  performanceCookiesOn: boolean;
};

// Initialise context storage
const CookiesContext = React.createContext({});
const { Consumer: CookiesConsumer } = CookiesContext;

class CookiesProvider extends Component<Props, State> {
  constructor(props: Props) {
    super(props);

    const {
      functionalCookiesOn,
      performanceCookiesOn,
    } = this.props;

    this.state = {
      functionalCookiesOn,
      performanceCookiesOn,
    };
  }

  componentDidUpdate(_prevProps: Props, prevState: State) {
    const {
      functionalCookiesOn,
      performanceCookiesOn,
    } = this.state;

    // Set cookie to store functional cookies setting
    if (functionalCookiesOn !== prevState.functionalCookiesOn) {
      Cookies.set('functionalCookiesOn', functionalCookiesOn.toString());
    }

    // Set cookie to store performance cookies setting
    if (performanceCookiesOn !== prevState.performanceCookiesOn) {
      Cookies.set('performanceCookiesOn', performanceCookiesOn.toString());
    }
  }

  toggleAllCookies = () => {
    // Store reversed state for functional and performance cookies
    this.setState((prevState: State) => ({
      functionalCookiesOn: !prevState.functionalCookiesOn,
      performanceCookiesOn: !prevState.performanceCookiesOn,
    }));
  }

  render() {
    const { children } = this.props;

    const {
      functionalCookiesOn,
      performanceCookiesOn,
    } = this.state;

    const value = {
      functionalCookiesOn,
      performanceCookiesOn,
      toggleAllCookies: this.toggleAllCookies,
    };

    return (
      <CookiesContext.Provider value={value}>
        {children}
      </CookiesContext.Provider>
    );
  }
}

export default CookiesContext;
export { CookiesConsumer, CookiesProvider };

When I use this in another function component it looks like this:

const AnotherComponent = () => {
  const {
    functionalCookiesOn,
    performanceCookiesOn,
    toggleAllCookies,
  } = useContext(CookiesContext);

  return (
    ...
  );
}

This throws errors such as:

Property 'functionalCookiesOn' does not exist on type '{}'.

This seems to me to do with the following line in the original file:

const CookiesContext = React.createContext({});

Because I initialise the context with an empty object (because at that stage it's got no values).

What's the correct way to initialise this or apply types to avoid this error?