"MissingReferenceException" error is thrown when moving a Child GameObject to another GameObject in the Hierarchy window

Reproduction steps:
1. Open the “ReproProject“ project
2. Open the “Assets/Scenes/OutdoorsScene“ scene
3. Open the “SubScene” SubScene in the Hierarchy window
4. Drag the “MoveThis“ Child GameObject from under the “Parent1“ Parent GameObject to the “MoveToHere“ GameObject in the Hierarchy window
5. Observe the Console window

Expected result: No errors are thrown in the Console window
Actual result: “MissingReferenceException: The object of type 'UnityEngine.GameObject' has been destroyed but you are still trying to access it.“ error is thrown in the Console window

Reproducible with: 1.2.0-exp.3, 1.2.0-pre.12(2022.3.21f1, 2023.2.14f1, 6000.0.0b11)
Not reproducible with: 1.1.0-pre.3(2022.3.21f1, 2023.2.14f1, 2023.3.0a19)

Reproducible on: Windows 11 Pro (22H2)
Not reproducible on: No other environment tested