1. What happened
Dropping sprite into scene view causes the following error to be logged into console:
GetLocalizedString is not allowed to be called from a MonoBehaviour constructor, call it in Awake or Start instead. Called from script 'SpriteRendererEditor' on game object ''.
See "Script Serialization" page in the Unity Manual for further details.
UnityEditor.SpriteRendererEditor:.cctor()
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To repro:
- Create new scene
- Drop 'Sprite (2D and UI)' asset into Scene view or Hierarchy.
---> Error appears in console

Also the same error appears in console every time project is reopened and the sprite is selected.

2. How we can reproduce it using the example you attached
- can use sprite from the attached project to repro the above sequence.

Regression from 5.3.1p2