Updating / Regenerating a service client causes error in Visual Studio

If you try to update a previously added connected service (OpenAPI C# client) an error happens and Visual Studio shows a message box. The connected service is also not updated.

The error message is:

Connected Services

The Connected Services component 'Unchase OpenAPI
(Swagger) Connected Service' failed: (HRESULT:0x80131500)
Error setting value to 'PathPrefix' on
'Microsoft.OpenApi.OData.OpenApiConvertSettings'.