I had to adjust the timeout of my axios instance as mentioned in #1196 described in the second example here

To do so, I run npm install axios which added the latest axios version, at the time of writing this was 0.27.4.

It results in this error:

Argument of type 'import("C:/.../e2e-serenityjs/node_modules/axios/index").AxiosInstance' is not assignable to parameter of type 'import("C:/.../e2e-serenityjs/node_modules/@serenity-js/rest/node_modules/axios/index").AxiosInstance'.
  The types of 'defaults.method' are incompatible between these types.
    Type 'string' is not assignable to type 'Method'.ts(2345)

@serenity-js/rest still uses an axios version 0.21.4

I downgraded the axios package in my project to this version - and it was working again.

I did no further analysis so far, so I'm not sure if this is just because of the general version mismatch or if breaking changes where introduced in axios meanwhile.