Steps to reproduce:
1. Create a new Universal Render Pipeline project
2. Create a new Scene and open it
3. Create a new Terrain in the Hierarchy window
4. Zoom out and observe the Scene view

Expected result: The Terrain stays the same color all the time
Actual result: The Terrain turns pink after zooming out far enough

Reproducible with (URP): 2021.2.0a5, 2021.2.0b5, 2022.1.0a3
Not reproducible with (URP): 2019.4.29f1, 2020.3.16f1, 2021.1.15f1, 2021.2.0a4
Could not test with (URP): 2022.1.0a4, 2022.1.0a5 (NotSupportedException: ForwardRendererData has been deprecated)

Reproducible with (HDRP): 2021.2.0a5, 2021.2.0a21
Not reproducible with (HDRP): 2019.4.29f1, 2020.3.16f1, 2021.1.15f1, 2021.2.0a4, 2021.2.0b1, 2021.2.0b5, 2022.1.0a5

Notes:
-The issue is visible in the Game view as well
-Reproducible with URP and HDRP
-Not reproducible with Built-in Render Pipeline
-The issue is only reproducible on new projects
-After restarting the Editor the issue does not reproduce