Crash on GUIView::ProcessInputEvent when selecting values from the Static Editor Flags drop-down menu

Reproduction steps:
1. Open the attached “repro-project“
2. In the Hierarchy window select the “Parent“ GameObject
3. In the Inspector window keep selecting and deselecting values from the Static Editor Flags drop-down menu
4. Observe the crash

Reproducible with: 2021.3.17f1, 2021.3.20f1
Not reproducible with: 2020.3.46f1, 2021.3.16f1, 2022.2.10f1, 2023.1.0b7, 2023.2.0a5

Reproduced on: Windows 10 Pro

First few lines of the stack trace:
{{0x00007ff664118ae3 (Unity) GUIView::ProcessInputEventFromAPI }}
{{0x00007ff6641189b8 (Unity) GUIView::ProcessInputEvent }}
{{0x00007ff6646f46dc (Unity) GUIView::ProcessEventMessages }}
{{0x00007ff6646ee466 (Unity) GUIView::GUIViewWndProc }}
0x00007ffeeb3ee7e8 (USER32) CallWindowProcW