diff --git a/packages/plugin-react/src/index.ts b/packages/plugin-react/src/index.ts
index 2cc9eaab5a5f75..f94737b620eee5 100644
--- a/packages/plugin-react/src/index.ts
+++ b/packages/plugin-react/src/index.ts
@@ -52,6 +52,9 @@ export default function viteReact(opts: Options = {}): PluginOption[] {
   let skipFastRefresh = opts.fastRefresh === false
   let skipReactImport = false
 
+  // The dir where pre-bundled deps is stored
+  let cacheDir: string
+
   const useAutomaticRuntime = opts.jsxRuntime !== 'classic'
 
   const userPlugins = opts.babel?.plugins || []
@@ -78,6 +81,7 @@ export default function viteReact(opts: Options = {}): PluginOption[] {
       })
       isProduction = config.isProduction
       skipFastRefresh ||= isProduction || config.command === 'build'
+      cacheDir = config.cacheDir as string
 
       const jsxInject = config.esbuild && config.esbuild.jsxInject
       if (jsxInject && importReactRE.test(jsxInject)) {
@@ -107,6 +111,11 @@ export default function viteReact(opts: Options = {}): PluginOption[] {
         filepath.match(fileExtensionRE) ||
         []
 
+      // Pre-bundle deps should not be transformed there. #5438
+      if (id.startsWith(cacheDir)) {
+        return
+      }
+
       if (/\.(mjs|[tj]sx?)$/.test(extension)) {
         const plugins = [...userPlugins]
 
diff --git a/packages/vite/src/node/utils.ts b/packages/vite/src/node/utils.ts
index 4d6d4436b4248b..2f87a0bbb55af4 100644
--- a/packages/vite/src/node/utils.ts
+++ b/packages/vite/src/node/utils.ts
@@ -520,7 +520,8 @@ export function combineSourcemaps(
   const useArrayInterface =
     sourcemapList.slice(0, -1).find((m) => m.sources.length !== 1) === undefined
   if (useArrayInterface) {
-    map = remapping(sourcemapList, () => null, true)
+    // We cann't exclude sourcesContent there. #5438
+    map = remapping(sourcemapList, () => null, false)
   } else {
     map = remapping(
       sourcemapList[0],
@@ -531,7 +532,7 @@ export function combineSourcemaps(
           return { ...nullSourceMap }
         }
       },
-      true
+      false
     )
   }
   if (!map.file) {
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index e86f24fd601903..f69fe06b35edf0 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -7183,7 +7183,7 @@ packages:
     dev: true
 
   /pvutils/1.0.17:
-    resolution: {integrity: sha512-wLHYUQxWaXVQvKnwIDWFVKDJku9XDCvyhhxoq8dc5MFdIlRenyPI9eSfEtcvgHgD7FlvCyGAlWgOzRnZD99GZQ==}
+    resolution: {integrity: sha1-rePHTf5xeJRP5EgGYmvS4knZlr8=}
     engines: {node: '>=6.0.0'}
     dev: true