Exclude files from require.context of Webpack

You need to be aware after what part the negative lookahead employs it's rejection. If you do it right after the first forward slash it works fine.

And with that you want to reject .*test after the slash, instead of just test directly behind it.

/^(?!internals).*\/(?!.*test).*\.js$/

Or more specific not allowing internals in the path name.
Nor ending with test.js:

^(?!.*(?:internals|test.js$)).*\.js$