I found a solution with better adoption and support for (almost) all icon libraries: https://github.com/unplugin/unplugin-icons Since it is better maintained we've archived our own solution in favor of theirs.
This package bundles Material Design Icons dynamically.
It also includes an IconStack component. The idea is to render this IconStack; render the icons inside of it and in all other locations render them using SVG's use.
Run the application using npm run dev, visit the path / to see all icons loaded via a single include.
Open /pruned to show a demo page that dynamically picks 10 random icons and then loads them via their generated components.