using ~ is deprecated when the esModule option is enabled (enabled by default) and can be removed from your code (we recommend it) (url(~package/image.png) -> url(package/image.png), @import url(~package/style.css) -> @import url(package/style.css), composes: import from '~package/one.css'; -> composes: import from 'package/one.css';), but we still support it for historical reasons. Why can you remove it? The loader will first try to resolve @import/url()/etc as relative, if it cannot be resolved, the loader will try to resolve @import/url()/etc inside node_modules or modules directories.
file-loader and url-loader are deprecated, please migrate on asset modules, since v6 css-loader is generating new URL(...) syntax, it enables by default built-in assets modules, i.e. type: 'asset' for all url()

minimum supported Node.js version is 12.13.0
minimum supported webpack version is 5, we recommend to update to the latest version for better performance
for url and import options Function type was removed in favor Object type with the filter property, i.e. before { url: () => true }, now { url: { filter: () => true } } and before { import: () => true }, now { import: { filter: () => true } }
the modules.compileType option was removed in favor the modules.mode option with icss value, also the modules option can have icss string value
new URL() syntax used for url(), only when the esModule option is enabled (enabled by default), it means you can bundle CSS for libraries
data URI are handling in url(), it means you can register loaders for them, example
aliases with false value for url() now generate empty data URI (i.e. data:0,), only when the esModule option is enabled (enabled by default)
[ext] placeholder don't need . (dot) before for the localIdentName option, i.e. please change .[ext] on [ext] (no dot before)
[folder] placeholder was removed without replacement for the localIdentName option, please use a custom function if you need complex logic
[emoji] placeholder was removed without replacement for the localIdentName option, please use a custom function if you need complex logic
the localIdentHashPrefix was removed in favor the localIdentHashSalt option

supported resolve.byDependency.css resolve options for @import
supported resolve.byDependency.icss resolve CSS modules and ICSS imports (i.e. composes/etc)
added modules.localIdentHashFunction, modules.localIdentHashDigest, modules.localIdentHashDigestLength options for better class hashing controlling
less dependencies

we strongly recommend not to add .css to resolve.extensions, it reduces performance and in most cases it is simply not necessary, alternative you can set resolve options by dependency