Canot find module used in custom angular library

Question

I'm building a custom library with angular so that I can create components in this library that will be re-used through many future applications. I began with creating a few components and a couple services. One of the services requires a dependency of oidc-client. So inside my library I ran an npm install oidc-client. The dependency was added under my libraries package.json dependencies section. I began getting errors, read some of the documentation and found that this should actually be under the peerDependencies section, and not the dependencies section of my libraries package.json.

My folder/file layout is as so

./
../
.editorconfig
.gitignore
angular.json
dist/
node_modules/
package.json
package-lock.json
projects/
projects/my-lib/
projects/my-lib-runner/
README.md
tsconfig.base.json
tsconfig.json
tslint.json

What I do to test run my library is do a

ng build my-lib --watch

in one terminal, and then in another I run

ng serve my-lib-runner

When I run the -runner is when I get this error

ERROR in dist/my-lib/lib/core/services/auth.service.d.ts:2:22 - error TS2307: Cannot find module 'oidc-client' orr its corresponding type declarations.

2 import { User } from 'oidc-client';

And then here's the package.json for projects/my-lib/

{
  "name": "my-lib",
  "version": "0.0.1",
  "peerDependencies": {
    "@angular/common": "^10.0.14",
    "@angular/core": "^10.0.14",
    "@angular/material": "^10.2.2",
    "@angular/flex-layout": "^10.0.0-beta.32",
    "oidc-client": "^1.10.1",
    "tslib": "^2.0.0"
  }
}

I thought as a peer dependency, the project that references the library would either automatically download the necessary package on npm install or it would be included in the npm install my-lib.

What am I doing wrong?