How to reproduce:
# Note - this reproduction is consistent but will require patience as it does not seem to have common pattern. In ten minutes of repeating reproduction steps in random order i was able to reproduce the issue ~3 times. It has a greater chance to reproduce if you include switching between lit and unlit outputs.
# Import the attached package
# Continuously convert outputs of _*No Shadows & Motion Vectors*_ in any order (only that has SG integration supported)
# While converting outputs you can change surface options and vfx settings in Output Inspector
# After some time of changing outputs and setting continuously press CTRL+Z/CMD +Z until effect reverts to initial state

Actual result:
# ShaderGraph field disappears from output, but SG settings remain in the Output
# Output Inspector loses Surface Options until effect is recompiled
# When clicking on Output it sticks to the cursor and we can no longer release it until VFX is re-opened

Notes:
# It is a really high possibility that along the way of this reproduction you bumped into serialization crash. It lives here - https://jira.unity3d.com/browse/UUM-31445
# Reproduced on macOS M1