Repro steps:
1. Create a brand new VFX-enabled project
2. Go Project Settings - VFX
3. Observe errors

Notes:
- The errors only appear once
- If the VFX section of the Project Settings was pre-selected when Project Settings are opened, the null ref does not happen
- To re-try, close the editor, delete the library and project settings folders, and reopen

Console errors:
Exception while compiling expression graph: System.NullReferenceException: Object reference not set to an instance of an object
at UnityEditor.VFX.VFXContext.RenderPipeTemplate (System.String fileName) [0x00001] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Models\Contexts\VFXContext.cs:58
at UnityEditor.VFX.VFXPlanarPrimitiveOutput.get_codeGeneratorTemplate () [0x00001] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Models\Contexts\Implementations\VFXPlanarPrimitiveOutput.cs:20
at UnityEditor.VFX.VFXContext.get_doesGenerateShader () [0x00001] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Models\Contexts\VFXContext.cs:127
at UnityEditor.VFX.VFXGraphCompiledData.GenerateShaders (System.Collections.Generic.List`1[T] outGeneratedCodeData, UnityEditor.VFX.VFXExpressionGraph graph, System.Collections.Generic.IEnumerable`1[T] contexts, System.Collections.Generic.Dictionary`2[TKey,TValue] contextToCompiledData, UnityEditor.VFX.VFXCompilationMode compilationMode) [0x0002a] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Compiler\VFXGraphCompiledData.cs:599
at UnityEditor.VFX.VFXGraphCompiledData.Compile (UnityEditor.VFX.VFXCompilationMode compilationMode, System.Boolean forceShaderValidation) [0x005c3] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Compiler\VFXGraphCompiledData.cs:874 : at UnityEditor.VFX.VFXContext.RenderPipeTemplate (System.String fileName) [0x00001] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Models\Contexts\VFXContext.cs:58
at UnityEditor.VFX.VFXPlanarPrimitiveOutput.get_codeGeneratorTemplate () [0x00001] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Models\Contexts\Implementations\VFXPlanarPrimitiveOutput.cs:20
at UnityEditor.VFX.VFXContext.get_doesGenerateShader () [0x00001] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Models\Contexts\VFXContext.cs:127
at UnityEditor.VFX.VFXGraphCompiledData.GenerateShaders (System.Collections.Generic.List`1[T] outGeneratedCodeData, UnityEditor.VFX.VFXExpressionGraph graph, System.Collections.Generic.IEnumerable`1[T] contexts, System.Collections.Generic.Dictionary`2[TKey,TValue] contextToCompiledData, UnityEditor.VFX.VFXCompilationMode compilationMode) [0x0002a] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Compiler\VFXGraphCompiledData.cs:599
at UnityEditor.VFX.VFXGraphCompiledData.Compile (UnityEditor.VFX.VFXCompilationMode compilationMode, System.Boolean forceShaderValidation) [0x005c3] in C:\Users\vlad\Documents\Projects\VFX\VFX_19.2\SRP\com.unity.visualeffectgraph\Editor\Compiler\VFXGraphCompiledData.cs:874
UnityEditor.VFX.VFXCacheManager:Build()
VFXManagerEditor:CheckVFXManager() (at C:/Users/vlad/Documents/Projects/VFX/VFX_19.2/SRP/com.unity.visualeffectgraph/Editor/Inspector/VFXManagerEditor.cs:165)
VFXManagerEditor:OnEnable() (at C:/Users/vlad/Documents/Projects/VFX/VFX_19.2/SRP/com.unity.visualeffectgraph/Editor/Inspector/VFXManagerEditor.cs:42)
UnityEngine.GUIUtility:ProcessEvent(Int32, IntPtr)