Thank you for reporting a bug to Unity.
This behavior is due to NOT importing the TMP Essential Resources which contain the shaders. Without the shaders, you would get the pink quads.
In this process a popup should have appeared on screen guiding the user to import the TMP Essential Resources.
After reviewing the behavior, we've confirmed it aligns with the current design and intended use of the feature. We understand this may differ from your expectations or workflow.
We will close this case as 'As Designed.' If you have feedback on how the feature could better meet your needs, please let us know - we value your input and consider it in future improvements.