Textures are not generated when Naming option in Import Settings of an FBX file is changed to "From Model's Material"

How to reproduce:
1. Open the attached project ("FBX-FBM-Remove.zip")
2. Observe that there are 3 Texture files in the "100000.fbm" folder (BaseTextureName/100000/")
3. Select the "100000.fbx" file
4. In Import Settings, change "Naming" to "From Model's Material" and apply
5. Refresh the "100000.fbm" folder

Expected result: The folder contains 3 generated Texture files
Actual result: The folder does not contain 3 generated Texture files

Reproducible with: 2021.1.0b6, 2021.3.4f1, 2022.1.4f1, 2022.2.0a16
Not reproducible with: 2019.4.39f1, 2020.3.35f1, 2021.1.0b5

Reproducible on:
macOS 12.1 (Intel)