post-update aborted while running "system_post_update_timestamp_formatter"

It is observed that upgrading the core from 9.x to 10.1.x and running a database update fails with an error.

[error] SQLSTATE[23000]: Integrity constraint violation: 1048 Column 'source_uuid' cannot be null: INSERT INTO "coh_usage" ("source_uuid", "source_type", "requires_uuid", "requires_type") VALUES (:db_insert_placeholder_0, :db_insert_placeholder_1, :db_insert_placeholder_2, :db_insert_placeholder_3); Array
> (
> [:db_insert_placeholder_0] =>
> [:db_insert_placeholder_1] => entity_view_display
> [:db_insert_placeholder_2] => b23bb549-4b29-488f-9bf8-16a183cdac64
> [:db_insert_placeholder_3] => node_type
> )
>
> [error] Update failed: system_post_update_timestamp_formatter
> [warning] Invalid placeholder (severity_level) with string: "%type: @message in %function (line %line of %file)." FormattableMarkup.php:245
> [warning] Invalid placeholder (exception) with string: "%type: @message in %function (line %line of %file)." FormattableMarkup.php:245
[error] Update aborted by: system_post_update_timestamp_formatter