contentBase not supported in new webpack-dev-server

[Wayto0blivion]

Ran into an issue where "contentBase" in webpack.base.js was not supported in the currently used version of webpack-dev-server, and instead needed to be replaced with "static".

Here is the error I encountered:
[webpack-cli] Invalid options object. Dev Server has been initialized using an options object that does not match the API schema.

• options has an unknown property 'contentBase'. These properties are valid:
  object { allowedHosts?, bonjour?, client?, compress?, devMiddleware?, headers?, historyApiFallback?, host?, hot?, http2?, https?, ipc?, liveReload?, magicHtml?, onAfterSetupMiddleware?, onBeforeSetupMiddleware?, onListening?, open?, port?, proxy?, server?, setupExitSignals?, setupMiddlewares?, static?, watchFiles?, webSocketServer? }