How to reproduce:
1. Create a new HD RP project
2. Open the “SampleScene“
3. Create a Cube GameObject in the Hierarchy
4. Duplicate the Cube GameObject, move it, and add it as a child to the first Cube
5. Create a new Material, change the color, and add it to the child Cube
6. Select the parent Cube
7. Drag the mouse over the Scene view gizmos and toolbar buttons
8. Observe the Scene view

Expected results: Material does not flicker
Actual results: Material flickers between the child and the parent Cubes

Reproducible in: 2023.3.0b2, 6000.0.0b15
Not reproducible in: 2021.3.37f1, 2022.3.24f1, 2023.2.19f1, 2023.3.0b1

Reproduced on: Windows 11 Pro (23H2)
Not reproduced on: No other environment tested

Notes:
- Not reproducible if the project is restarted after adding the Material
- The issue is not reproducible sometimes, in that case, restart the project, delete the child GameObject, and repeat steps 4-8
- The material exchanges between the parent and the child