Using path configuration, still can't find package.json when webpack file is not at root

[ghost]

Hello,

I'm having trouble targeting the package.json file where I want to access the browserslist configuration.
My structure is as follows:

package.json
webpack
   /webpack.config.js
   /...other files

From the documentation I can specify a path property but I can't seem to get it to work. Here's what I have currently:

loader: 'swc-loader',
options: {
    jsc: {
        target: 'es2015',
        parser: {
            syntax: 'ecmascript'
        }
    },
    env: {
        // targets: 'ios >= 12',
        // targets: packageJson.browserslist,
        path: '../',
        coreJs: '3.24.1',
        mode: 'usage'
    }
}

I've tried also passing an absolute hardcoded path to the root as well as path.resolve(__dirname, '../') but no success so far.
I've also tried including package.json in the path but that also didn't work.

Has someone here managed to get the path property to work? What am I doing wrong?
I can pass the package.json data directly if I read the file but I'd like to be able to correctly specify the root of my project since the loader may need to look for other files as well.

Thanks,
Valentin