Getting the same issue, when developing react-native with expo ("expo start" command), using similar setup. Adding powershell.exe to exceptions doesn't seem to help - I'm getting the process blocked anyway. Need to turn off shields to work around.
OS: Win10 (10.0.19041)
Avast: 20.7.2425 (build 20.7.5568.599)
WSL: Ubuntu 20.04 LTS (GNU/Linux 4.4.0-19041-Microsoft)