GameObject doesn't render correctly when using the animator setting Emissive Intensity on SkinnedMeshRenderer

Steps to reproduce:
1. Open the “EmissiveIntensityRendererBug” project
2. Open “OutdoorsScene” scene
3. Observe the Game view when moving Scene Camera in the Scene view

Expected result: Renders “Arms” GameObject correctly
Actual result: The “Arms” GameObject is being rendered depending on the Scene Camera position

Reproducible with: 2020.3.45f1, 2021.3.17f1, 2021.3.20f1
Not reproducible with: 2021.1.0a1, 2021.3.16f1, 2022.1.0a1, 2022.2.9f1, 2023.1.0b6, 2023.2.0a5

Reproduced on: macOS Monterey 12.2 (Intel)

Note: The issue is reproducible in an Editor and in a build