On creating "New Diffusion Profile" from Rendering in the Project window causes editor to throw NullReferenceException, Refer attached video

Steps to repro:
1. Create a new project with HDRP Template
2. Window > Package Manager > High Definition RP > Upgrade to 10.1.0
3. Project window > Create > Rendering > Diffusion Profile

Actual Result:
NullReferenceException is thrown when Diffusion Profile is created in the Project window

Expected Result:
Diffusion Profile is created without any exception

Reproducible in:
2020.2.0b9 with package version 10.1.0

Working fine in:
2020.2.0b9, 2020.1.11f1 with package version 10.0.0-preview.27, 9.0.0-preview.54, 8.2.0

Environment:
Windows10 and macOS 10.15

Stack trace:
NullReferenceException: Object reference not set to an instance of an object
UnityEngine.Rendering.HighDefinition.DiffusionProfileSettings.Reset () (at library/packagecache/com.unity.render-pipelines.high-definition@10.1.0/runtime/material/diffusionprofile/diffusionprofilesettings.cs:235)
UnityEngine.GUIUtility:ProcessEvent(Int32, IntPtr, Boolean&)