“Texture creation failed.” and “NullReferenceException” errors when Camera.Render() and Decal Render Feature are used

Reproduction steps:
1. Open the attached project “UBug”
2. Enter Play mode

Expected result: no errors in the Console
Actual result: there are “Texture creation failed.” and “NullReferenceException” errors in the Console

Reproducible with: 2022.2.8f1, 2023.1.0b5, 2023.2.0a4
Could not test with: 2020.4.45f1, 2021.3.18f1 (There are other errors after entering Play mode)

Reproducible on: macOS 12.4 (Intel), Windows 11 (user’s)

Note:
1. Relevant code is in BillboardGenerator.cs, where Camera.Render() is called
2. Not reproducible if "Decal" is disabled on URP-HighFidelity-Renderer.asset