I'm also having the same issue. I tried to freeze old versions of my dependencies (including next) and run tests again - same error.
I concur with Alberto's opinion - that's not the issue with codebase, but with external dependency. But I'm unable to find which one exactly. Jest and all related packages to it were released at least a few days ago, so they should not break everything just today.
Perhaps it's the issue with the Next. At first I thought it was Next's custom transformer for tests written in Typescript, which relies on SWC compiler:
next/dist/build/swc/jest-transformer.js
However, it was not updated for a few month and seems to work fine. Also I use Next 14, so it's not even latest major release. So I checked these libraries also
My guess a dependency of any of these libraries is the issue. For now I just disabled React tests to preserve CI pipelines