Error: TypeError: content.replace is not a function

[ranjit-nyros]

I am trying to use requirejs-rails in my rails 5 project.
Rails version: 5.2.1
Ruby version: 2.4.2

when I run
rake assets:precompile

I am getting following error.

rake aborted!
Asset compilation with node failed with error:
Error: TypeError: content.replace is not a function
at Object.jsEscape (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2907:28)
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:28325:19
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:3058:39
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2998:25
at Function.prim.nextTick (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:28076:9)
at Object.errback (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2997:26)
at Object.callback (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2983:23)
at Object.then (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:3037:23)
at build (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:28282:12)
at runBuild (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:30290:17)
at Object.execCb (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:1945:33) {
originalError: TypeError: content.replace is not a function
at Object.jsEscape (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2907:28)
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:30194:25
at Array.map ()
at Function.build.makeJsArrayString (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:30192:27)
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:30112:67
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:3040:37
at /home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2988:25
at Function.prim.nextTick (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:28076:9)
at Object.callback (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:2987:26)
at Object.then (/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/bin/r.js:3037:23)
}
/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/lib/tasks/requirejs-rails_tasks.rake:129:in block (3 levels) in <top (required)>'
/home/user/.rvm/gems/ruby-2.4.2@gsv/gems/rake-13.0.1/exe/rake:27:in <top (required)>'
Tasks: TOP => requirejs:precompile:all => requirejs:precompile:digestify_and_compress => requirejs:precompile:run_rjs
(See full trace by running task with --trace)
rake aborted!
Command failed with status (1): [/home/user/.rvm/rubies/ruby-2.4.2/bin/rub...]
/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/lib/tasks/requirejs-rails_tasks.rake:18:in ruby_rake_task'
/home/user/.rvm/gems/ruby-2.4.2@gsv/bundler/gems/requirejs-rails-7a05a81d35f8/lib/tasks/requirejs-rails_tasks.rake:83:in block (3 levels) in <top (required)>'
/home/user/.rvm/gems/ruby-2.4.2@gsv/gems/rake-13.0.1/exe/rake:27:in <top (required)>'
/home/user/.rvm/gems/ruby-2.4.2@gsv/bin/ruby_executable_hooks:24:in eval'
/home/user/.rvm/gems/ruby-2.4.2@gsv/bin/ruby_executable_hooks:24:in

'
Tasks: TOP => assets:precompile => requirejs:precompile:external
(See full trace by running task with --trace)

I am able to precompile successfully with Rails version 3.
Please help me out.