VFX is displayed incorrectly in the first frame when played after saving the VFX Graph

How to reproduce:
1. Open the attached project "VFXGraphError"
2. Open the "VFX" scene
3. Select the "GanzSeModularHeroKit" GameObject
4. On the Visual Effect Overlay click "Play" and observe the results
5. Open the attached to GameObject VFX Graph "CharacterDeath" next to the Scene view
6. Press Ctlr + S/Command + S to save the VFX graph
7. Observe the played VFX Graph in the Scene view

Expected results: The first frame of the Visual Effect is the same in both cases
Actual results: The first frame is different and wrong when Visual Effect is played after the saving

Reproducible with: 6000.0.61f1, 6000.2.8f1, 6000.3.0b8
Not reproducible with: 6000.4.0a3

Reproducible on: macOS Sequoia 15.6 (M1)
Not reproducible on: No other environment tested