Can run yarn command from one Power Shell window, but not another. What could possibly explain the difference?

SUCCESS

I start PowerShell from the File explorer: C:\Windows\System32\WindowsPowerShell\v1.0\powershell.exe. I change directory to where I want to run the yarn command. I run yarn build which starts the script rollup --config --environment NODE_ENV:production. The application builds successfully.

FAIL

I start PowerShell from the start menu: C:\Users\Me\AppData\Roaming\Microsoft\Windows\Start Menu\Programs\Windows PowerShell\Windows PowerShell.lnk. This shortcut targets the executable above: %SystemRoot%\system32\WindowsPowerShell\v1.0\powershell.exe. I change directory to where I want to run the yarn command. I run yarn build. The build errors.

src/renderer/renderer.tsx → app/build...
[!] Error: Unexpected token (Note that you need plugins to import files that are not JavaScript)
src\renderer\renderer.tsx (6:9)
4:
5: document.addEventListener("DOMContentLoaded", () =>
6:   render(<App />, document.getElementById("root"))
            ^
7: );
Error: Unexpected token (Note that you need plugins to import files that are not JavaScript)
    at error (C:\Users\Me\Dev\graphics\svgconverter\node_modules\rollup\dist\shared\rollup.js:217:30)
    at Module.error (C:\Users\Me\Dev\graphics\svgconverter\node_modules\rollup\dist\shared\rollup.js:15145:16)
    at tryParse (C:\Users\Me\Dev\graphics\svgconverter\node_modules\rollup\dist\shared\rollup.js:15034:23)
    at Module.setSource (C:\Users\Me\Dev\graphics\svgconverter\node_modules\rollup\dist\shared\rollup.js:15436:30)
    at ModuleLoader.addModuleSource (C:\Users\Me\Dev\graphics\svgconverter\node_modules\rollup\dist\shared\rollup.js:17434:20)
    at ModuleLoader.fetchModule (C:\Users\Me\Dev\graphics\svgconverter\node_modules\rollup\dist\shared\rollup.js:17495:9)
    at async Promise.all (index 0)
    at async Promise.all (index 0)

error Command failed with exit code 1.

LOOKING FOR DIFFERENCES

• I have checked the file properties of the shortcut. It does not open the target as administrator. The owner is EUR/{Me}. System, Me and Administrators have all permissions checked except for special permissions. I think this is should not lead to any difference in behavior from starting PowerShell without using this shortcut?
• I have printed the environment variables on both shells using dir env: | Format-Table -Wrap and they are completely equal.

So now I am scratching my head. What could possibly explain the difference?