I tried rewatch and have the same issue, sometimes it can parse every files but hang on the next step or it hangs during the parsing.
I tried the 11.1.0 without success, and I have a strange issue with 11.0.0 and the uncurried mode with rescript-react (latest version)
PS: the rewatch compile time is impressive, the first build of our toolkit module is at least 2x faster !