Can't reset a link field using predefined link text

As of Drupal 9.3, we have a problem with the Link widget and the Link Icon module.

Our case:

• Link field is not required.
• Link field has "Predefined" link text with several options.
• Link field has no default value (URL and Link text are empty).

Expected behavior:

When data exists in Link field (URL and Link text), user should be able to erase URL and set Link text to "-Select-" (value = blank) to delete the link.

Actual behavior:

There is no way to reset the Link field to it's initial empty state. Setting Link text to "-Select-" does not clear the "required" class from the URL input, so user cannot save the node due to client-side validation.