Thanks for your reply @SantoshSai
I took a look at that article, it talks about customizing breakpoints. We are not using custom and having issues with OOTB ones.
We are facing the same issue while we are trying to create a new template with no custom components.
When we click on any emulator for device i.e. iPhone8 etc., its not working and following error is displayed in developer console -
Tried removing custom clientlibs but didnt help.
Also, page component is present in OSGI config.