Reproduction steps:
1. Open attached project "Project1" from "AdditionalCatalogs.zip"
2. Open attached project "AddressablesUpdatingPackage" (Project2) and scene "ReproScene" from "AdditionalCatalogs.zip"
3. In Project1, Addressables Groups window, Build -> New Build -> Default Build Script
4. In Project1, Addressables Hosting window, combine "PrivateIpAddress", and "HostingServicePort" variables into a single address with port
5. In Project2, Hierarchy window, select Loader GameObject
6. In Project2, Inspector window, change "Addressable Sprite Loader (Script)'s" "Host Ip And Port" to the address and port that you'd copied
7. Enter Play Mode

Expected result: Sprite load is successfull
Actual result: "Exception encountered in operation Resource<Object>..." errors in console

Reproducible with: 1.16.6 (2019.4.13f1, 2020.1.10f1, 2020.2.0b8, 2021.1.0a1)
Could not test with: 2018.4.28f1 (console errors break project)

Note:
Issue does not reproduce on Mac