expect toHaveBeenCalledWith not working with latest CreateReactApp setup

I have code like below which checks if my named function has been called with certain arguments:

    const wrapper = mount(<PromotionsContent {...props} />);
    let params = new URLSearchParams();
    params.append('page', 0);
    params.append('size', '20');

    expect(getPromotions).toHaveBeenCalledWith(params);

Here getPromotions is a named function which is imported and mocked correctly in the test file. This used to work fine before but after upgrading my app to use latest CreateReactApp(with React 16.12.0) it has started breaking. I have also logged params to the console just before where getPromotions is called and I could actually see right values but in the test it just prints like below and fails:

expect(jest.fn()).toHaveBeenCalledWith(...expected)

    - Expected
    + Received

    - {},
    + {},

    Number of calls: 1

Surprisingly if I directly use the called arguments like below it works:

    const wrapper = mount(<PromotionsContent {...props} />);
    let params = new URLSearchParams();
    params.append('page', 0);
    params.append('size', '20');

   let calledParams = getPromotions.mock.calls[0][0];
   expect(calledParams.get('page')).toEqual ('0');
   expect(calledParams.get('size')).toEqual ('20');

Any clues, please?

from expect toHaveBeenCalledWith not working with latest CreateReactApp setup