We are also having the issue many here are describing.
...read object CN=AdminSDHolder,CN=System....
...System.NullReferenceException: Object reference not set to an instance of an object....
Our install is English, so I do not believe it is language specific.
We are running Exchange 2016 Update 20.
Our Domain Functional Level is Windows Server 2012 R2.
We are setup in a hybrid environment.
The last SU installed was from May 2021.
I have tried every known trick in the book at this time.
I am personally guessing that there is a mistake in the Check Permissions PowerShell script but I have not gone through any of the scripts yet. I am half tempted to turn on for a few minutes the Transaction Log recording so I can see just what and where this thing is going wrong.
I will be asking the organization to open a ticket tomorrow but I am unsure if they will go for it.
Definitely looking for Microsoft to come out with a fix. I did not want to apply any other SU until we applied the latest CU.