Post-processing script template fails to render when intermediate texture rendering is disabled

Reproduction steps:
1. Open the attached project "URP_Template_Repro"
2. In the Project window create a PP effect from the "Create" -> "Rendering" -> "URP Post-processing Effect (Renderer Feature with Volume)" template and name it "Invert Color"
3. Select the "URP-HighFidelity-Renderer.asset" and add "Invert Color Renderer Feature" to it

Expected result: Game View colors become inverted
Actual result: Game View colors are not inverted (black or unchanged) and an "ArgumentNullException: Value cannot be null." error is printed to the console window

Note: the for this to reproduce, nothing else in the URP setup has to be forcing temporary texture rendering. The repro project has post-processing disabled on the renderer asset and also MSAA and HDR disabled on the URP pipeline asset to achieve this