The video flickers to black when changing Video Clip

How to reproduce:

1. Open the attached project "VCS Test Project.zip"
2. Enter Play Mode

Expected results: The video doesn't flicker when changing Video Clip
Actual results: The video flickers to black when changing Video Clip

Reproducible with: 2020.3.45f1
Not reproducible with: 2021.1.0a1, 2021.3.18f1, 2022.2.7f1, 2023.1.0b4, 2023.2.0a2

Reproducible on: Windows 10