Steps to reproduce:
1. Open the user’s attached project
2. Navigate to Window > Package Manager and install the Universal RP package
3. Navigate to Window > Rendering > Render Pipeline Converter
4. In the Render Pipeline Converter window make sure that the “Built-in to URP” option is selected
5. Enable the “Readonly Material Converter” option and click “Initialize Converters“
6. Observe the number of items found
7. Close the Render Pipeline Converter window and repeat 3-6 steps

Expected result: 250+ items are found the first time the converter is used
Actual result: First time 0 items are found and 250+ are found the second time the converter is used

Reproducible with: 14.0.2 (2022.2.0a12), 14.0.3 (2022.2.0b3), 15.0.0 (2023.1.0a3)
Not reproducible with: 12.1.7 (2021.3.8f1), 13.1.8 (2022.1.13f1), 14.0.2 (2022.2.0a11)
Couldn’t test with 10.9.0 (2020.3.37f1) (Render Pipeline Converter doesn’t exist)

Reproducible on: Windows 10