Steps:
1. Create a new URP Template project
If there are RendererData errors, on ProjectView > select Settings folder > right click and Reimport it
2. Import the attached ShaderVariantTool, put the tool in an Editor folder
3. BuildSettings > click Build
4. After build finished, find the generated CSV in project root folder
5. Open the CSV and observe "Variant Count before Stripping" and "Stripping+Compilation Time" for Universal Render Pipeline/Lit

Reproducible:

2022.1.0a16 (86a669)
Shader Variant Count before Stripping: 2359928
Shader Stripping+Compilation Time: 5m 8.0s

2021.2.0b14 (d7e84b)
Shader Variant Count before Stripping: 2359928
Shader Stripping+Compilation Time: 8m 24.4s

2021.2.0b1 (1e2674)
Shader Variant Count before Stripping: 2359952
Shader Stripping+Compilation Time: 8m 5.5s

Not-reproducible:

2021.2.0a20 (bd21e)
Shader Variant Count before Stripping: 37520
Shader Stripping+Compilation Time: 3m 7.7s

2021.2.0a19 (f81c6a)
Shader Variant Count before Stripping: 37520
Shader Stripping+Compilation Time: 3m 6.4s

2021.2.0a18 (281d88)
Shader Variant Count before Stripping: 37520
Shader Stripping+Compilation Time: 3m 5.0s

Tested on Win DX11.