OS/2 Warp 4.52 OS2LVM failure

When I try to boot OS/2 Warp 4.51 (Merlin), 4.52 (Aurora) or eCS 1.2.5, etc. I always get an exception in OS2LVM (TRAP 000E). You can reproduce the bug using this disk image: https://drive.google.com/open?id=1zzjs9hTS0TK-Xb5hnon8SQ-2C1EmlYfy