Post-Processing effects do not display when Postprocessing profile reassign after resetting "Post-process Volume" component

Steps to repro:
1. Open the attached project.
2. Select "Test" game object > Add effect > Unity > Auto Exposer.
3. Reset Post-process Volume component.
4. Assign "Test" Post-process profile using asset selector tab.

Actual Result:
Post-Processing effects do not display on reassigning Postprocessing profile.

Expected Result:
Post-Processing effects should be displayed on reassigning Postprocessing profile.

Workaround:
Select assigned Profile in the project view, Inspector will refresh with added effects.

Reproducible in:
2020.2.0a5, 2020.1.0b3, 2019.3.3f1, 2019.2.1f1, 2019.1.0f1, 2018.4.16f1, 2018.3.0f1, 2018.2.0f2 with Package version 2.3.0, 2.2.2, 2.1.7, 2.1.3, 2.1.0, 2.0.8, 2.0.7.

Working fine in:
2018.2.0f2 with Package Version: 2.0.5, 2.0.2, 0.1.7

Environment:
Occurring on Windows 10 & Mac 10.15.