v4.0.0 has problems with base64 in url

[ping2lai2]

• Operating System: windows 10
• Node Version: 12.16.2
• NPM Version: 6.14.4
• webpack Version: 4.44.0
• css-loader Version: 4.0.0

Expected Behavior

svg encoded in base64 when used in a url() function throws no errors

Actual Behavior

throws error:

ERROR in ./src/App.css (./node_modules/css-loader/dist/cjs.js!./src/App.css)
Module build failed (from ./node_modules/css-loader/dist/cjs.js):
Error: Can't resolve 'DOCTYPE svg PUBLIC "-//W3C//DTD SVG 1.1//EN" "http://www.w3.org/Graphics/SVG/1.1/DTD/svg11.dtd">
<svg version="1.1" id="Layer_1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" x="0px" y="0px"
         width="191px" height="191px" viewBox="0 0 191 191" enable-background="new 0 0 191 191" xml:space="preserve">
<path fill="#636363" d="M95.5,0C42.8,0,0,42.8,0,95.5S42.8,191,95.5,191S191,148.2,191,95.5S148.2,0,95.5,0z M95.5,187.6
        c-50.848,0-92.1-41.25-92.1-92.1c0-50.848,41.252-92.1,92.1-92.1c50.85,0,92.1,41.252,92.1,92.1
        C187.6,146.35,146.35,187.6,95.5,187.6z"/>
<g>
...
</svg>
' in 'C:\Users\e.kazak\Desktop\example\src'
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\Resolver.js:209:21
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\Resolver.js:285:5
    at eval (eval at create (C:\Users\e.kazak\Desktop\example\node_modules\tapable\lib\HookCodeFactory.js:33:10), <anonymous>:13:1)
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\UnsafeCachePlugin.js:44:7
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\Resolver.js:285:5
    at eval (eval at create (C:\Users\e.kazak\Desktop\example\node_modules\tapable\lib\HookCodeFactory.js:33:10), <anonymous>:13:1)
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\Resolver.js:285:5
    at eval (eval at create (C:\Users\e.kazak\Desktop\example\node_modules\tapable\lib\HookCodeFactory.js:33:10), <anonymous>:25:1)
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\DescriptionFilePlugin.js:67:43
    at C:\Users\e.kazak\Desktop\example\node_modules\enhanced-resolve\lib\Resolver.js:285:5
 @ ./src/App.css 2:26-87
 @ ./src/App.js
 @ ./src/index.js

How Do We Reproduce?

clone this repo
install dependencies
and run npm run dev

it works correctly with css-loader v3