Proxies in ionic.config.json is not working ionic v5. CORS Issue

I am trying to migrate my application from ionic v3 to ionic v5.

I had an ionic.config.json file for proxies which was working fine in ionic v3 but not in v5.

I am unable to test my application in the android/ios emulator.

I have gone through many posts but no luck. Ionic documentation is also not helpful.

Please help me with this.

{
  "name": "My App",
  "integrations": {
    "cordova": {}
  },
  "type": "angular",
  "v2": true,
  "typescript": true,
  "proxies": [
    {
      "path": "/oauth/token",
      "proxyUrl": "https://abc.xyz.us/oauth/token"
    },
    {
      "path": "/v2",
      "proxyUrl": "https://abc.xyz.us/v2"
    }
  ]
}