React Query Test with MSW - renderHook `current` result always returns null

const testQueryClient = new QueryClient({
  defaultOptions: {
    queries: {
      retry: false
    }
  }
});

const DummyComponent = () => {
  const { isLoading, data, error } = useFetchAccounts();

  console.log("isLoading", isLoading);
  if (isLoading) return "Loading...";

  if (error) return "An error has occurred: " + error;
  console.log("data", data);

  return (
    <div>
      {data?.map((item) => (
        <div key={item.id}>{item.value}</div>
      ))}
    </div>
  );
};

describe("Accounts", () => {
  it("renders accounts", async () => {
    const { result } = renderHook(() => useFetchAccounts(), {
      wrapper: () => (
        <QueryClientProvider client={testQueryClient}>
          <DummyComponent />
        </QueryClientProvider>
      )
    });

    console.log("result", result);

    await waitFor(() => expect(result.current.data).toBe(true));
  });
});

Cannot read properties of null (reading 'data')