Player freezes when a client tries to spawn an object in client-server many times

Reproduction steps:
1. Open the attached project "ReproProj"
2. Build And Run (File > Build Profiles > Build And Run)
3. Open two Player instances
4. On one Player instance create character Warrior
5. On other Player instance create character Wizard
6. Click “Host“ on one Player instance
7. Click “Join“ on other Player instance

Expected result: Both Players join without freezing
Actual result: Joining Player freezes

Reproducible with: 2.8.0 (6000.3.5f1), 2.8.1 (6000.3.5f1)

Reproducible on:
Play Mode
Windows Standalone Player

Testing environment: Windows 10 Enterprise 21H2
Not reproducible on: No other environment tested

Note:

• Error “NullReferenceException: Object reference not set to an instance of an object” is present in Player logs