Reproduction steps:
1. Open the attached “repro_IN-85774“ project
2. Open the “Assets/Scenes/Unity.unity“ Scene
3. Open the Animation window (“Window → Animation → Animation“)
4. In the Hierarchy, select the “Sphere“ GameObject
5. In the Animation window, press the “Create“ button and save the .anim file
6. In the top-left of the Animation window, press on the “Enable/disable keyframe recording mode.“ button
7. In the Inspector (with the “Sphere“ GameObject still selected), go to the “Material (Material)“ section
8. Expand the “Surface Inputs“ dropdown
9. Select the “Emission Map“ parameter and slightly change the color
10. Observe the Scene view

Expected result: No aura appears around a sphere
Actual result: An aura appears around the sphere

Reproducible with: 2023.2.0a9, 6000.0.23f1
Not reproducible with: 2021.3.44f1, 2022.3.50f1, 2023.2.0a8

Reproducible on: Windows 10 (22H2), Windows 11 (10.0.22631) (user’s)
Not reproducible on: No other environments tested

Notes:

* Issue persists after saving the Scene and entering the Play Mode or building and opening the Scene in the Player
* Issue doesn’t reproduce with the keyframe recording mode disabled
* Adding the property “Material._Emission Color” and setting its keyframes manually (instead of recording them) creates a track with linear values (XYZW) instead of gamma compressed values (RGBA), giving correct results