I ended up migrating my React Native + Firebase project using the stable RN version 0.76.6 since the latest RN version 0.77.0 is causing a lot of RN issues. Also downgraded react-native-screens because its latest 4.7.0 version has a few issues causing builds to fail.

This was the only solution that actually worked for me after many attempts at different potential solutions. Thanks everyone, and for reference here’s a github discussion: https://github.com/facebook/react-native/issues/48462