Reproduction steps:
1. Open the attached project “NullReference_spam“
2. In the Inspector window, click the object reference of property “Prob 2” to ping the object in the Project window
3. Open the Project window in the top right corner
4. Open the Console window and click on the console error
5. Observe the error count and Project window opened in step 3

Expected result: Only one console error
Actual result: Console errors are getting spammed

Reproducible with: 2022.2.0a15, 2022.2.6f1, 2023.1.0b4, 2023.2.0a2
Not reproducible with: 2020.3.44f1, 2021.3.16f1, 2022.1.24f1, 2022.2.0a14

Reproducible on: Windows 10, macOS 13.1 Intel

Note: Make sure you do not change the Layout of the editor. In 2023 bug is more random and clicking on different project windows might be needed, it also happens only the first time. Restarting the editor, after the bug, fixes the issue in the 2023 versions.