Because we call babel.parse() without specifying the filename option (code), the plugin is not compatible with projects that have overrides in their Babel config.
E.g. if babel.config.js contains overrides: [{ test: '**/*.ts', plugins: ['@babel/plugin-transform-typescript'] }] then it will silently fail because we ignore errors and Babel cannot determine what config to use for parsing.
The issue explains the problem more thoroughly: babel/babel#11540
Passing { filename: '' } into the babel.parse() options appears to fix the issue.