How to reproduce:

1. 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.
2. Import the attached package
3. Continuously convert outputs of No Shadows & Motion Vectors in any order (only that has SG integration supported)
4. While converting outputs you can change surface options and vfx settings in Output Inspector
5. After some time of changing outputs and setting continuously press CTRL+Z/CMD +Z until effect reverts to initial state

Actual result:

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

Notes:

1. 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
2. Reproduced on macOS M1