Freeze when moving the first GameObject into the gap below the scene name

Reproduction steps:
1. Create a new 3D project
2. Drag the first GameObject into the gap below the scene name in the Hierarchy window

Expected result: Selected GameObject is moved to the top of the Hierarchy
Actual result: Editor freezes

Reproducible with: 2021.3.15f1, 2021.3.28f1
Not reproducible with: 2021.3.14f1, 2022.1.0a1, 2022.3.3f1, 2023.1.1f1, 2023.2.0a22

Reproducible on: Windows 10, Intel macOS 13.4

First few lines of the thread stack:

Unity.exe!GetAllTransformsUpToSibling+0x28d
Unity.exe!RegisterRootOrderUndo+0x99
Unity.exe!HandleSetTransformFatherDragAndDrop+0x7a5
Unity.exe!DragAndDropForwarding::ForwardDragAndDrop+0xad4
Unity.exe!InternalEditorUtilityBindings::HierarchyWindowDragByID+0x25b
Unity.exe!InternalEditorUtility_CUSTOM_HierarchyWindowDragByID+0x1de