Connection with IP goes into an infinite loop state on clicking on Check Connection button

PreCondition: Cache Server Default Mode should be enabled

Steps to Repro:
1. Open a new Project
2. Open Edit > Preferences > Cache Server
3. Clear the Default IP address Text box if not cleared already
4. Enter the wrong IP or for ex. Localhost:10080 (without copy/paste)
5. Click on Check Connection button
6. Delete the IP Address 1 by 1 char(it should get laggy near the end)
7. Type the same IP address manually(without copy/paste)

Expected Result:
IP address is wrong then a message should appear that connection failed and timed out

Actual Result:
The connection goes in the infinite loop

Reproducible on: 2020.2.0a5, 2020.1.0b4, 2020.1.0a14

Working fine on: 2020.1.0a13, 2019.3.6f1, 2019.2.12f1, 2019.1.14f1

Environment: Windows 10 only