ArgumentOutOfRangeException occurs on changing any property on the text component

Steps to reproduce:
1. Open any project
2. Create UI text element
3. Increase font size until letters don't fit in the bounding box and are truncated
4. Error is thrown in the console and some artifacting of characters occurs

Expected:
Characters disappear and no error is thrown

Actual:
ArgumentOutOfRangeException error appears

Reproduced on:
Version 2018.3.0a4 (c58b4eb076bf)
Sun, 24 Jun 2018 08:27:33 GMT
Branch: trunk

Version 2018.3.0a3 (0ac1bca97520)
Sat, 16 Jun 2018 20:31:36 GMT
Branch: trunk

Version 2018.3.0a1 (d734fac073ec)
Wed, 06 Jun 2018 08:19:04 GMT
Branch: trunk

Version 2018.3.0a1 (e02d28f8ceac)
Wed, 06 Jun 2018 13:45:57 GMT
Branch: ui/dev/package

Not Reproduced on:
2018.2.0b10, 2018.1.4f1, 2017.4.5f1

Note: I could also reproduce this issue with Horizontal Layout Group by simply changing Child Controls Size and Child Force Expand Width and Height settings. Usually reproduces after a couple of changes

Error in question:
ArgumentOutOfRangeException: Argument is out of range.
Parameter name: index
System.Collections.Generic.List`1[UnityEngine.UIVertex].get_Item (Int32 index) (at /Users/builduser/buildslave/mono/build/mcs/class/corlib/System.Collections.Generic/List.cs:633)
UnityEngine.UI.Text.OnPopulateMesh (UnityEngine.UI.VertexHelper toFill) (at C:/buildslave/unity/build/Extensions/guisystem/UnityEngine.UI/UI/Core/Text.cs:664)
UnityEngine.UI.Graphic.DoMeshGeneration () (at C:/buildslave/unity/build/Extensions/guisystem/UnityEngine.UI/UI/Core/Graphic.cs:579)
UnityEngine.UI.Graphic.UpdateGeometry () (at C:/buildslave/unity/build/Extensions/guisystem/UnityEngine.UI/UI/Core/Graphic.cs:573)
UnityEngine.UI.Text.UpdateGeometry () (at C:/buildslave/unity/build/Extensions/guisystem/UnityEngine.UI/UI/Core/Text.cs:571)
UnityEngine.UI.Graphic.Rebuild (CanvasUpdate update) (at C:/buildslave/unity/build/Extensions/guisystem/UnityEngine.UI/UI/Core/Graphic.cs:534)
UnityEngine.UI.CanvasUpdateRegistry.PerformUpdate () (at C:/buildslave/unity/build/Extensions/guisystem/UnityEngine.UI/UI/Core/CanvasUpdateRegistry.cs:198)
UnityEngine.Canvas:SendWillRenderCanvases()