Effects no longer work with reactive objects when using runes

In Svelte 4, the effect below would fire every time user or pass props from it changed

let data = {    user,    pass,};$: data && clearErrors()

In Svelte 5 the equivalent code with runes would be:

let data = $state({    user: '',    pass: ''})$effect(() => data && clearErrors());

But now the effect does not run when user or pass props are changed. Can someone explain to me why this happens?