That is very odd, in all the time I have worked with UE I have not run into this, but I see you are using UE5 and I am still on UE4. Are you using any plugins that can cause a conflict?
You might have to dig into c++ by setting breakpoints, try this file:
\UE_4.26\Engine\Source\Developer\AssetTools\Private\AssetTypeActions\AssetTypeActions_Blueprint.cpp
void FAssetTypeActions_Blueprint::OpenAssetEditor( const TArray<UObject*>& InObjects, TSharedPtr<IToolkitHost> EditWithinLevelEditor )
{
EToolkitMode::Type Mode = EditWithinLevelEditor.IsValid() ? EToolkitMode::WorldCentric : EToolkitMode::Standalone;
for (UObject* Object : InObjects)
{
if (UBlueprint* Blueprint = Cast<UBlueprint>(Object))
{
bool bLetOpen = true;
if (!Blueprint->SkeletonGeneratedClass || !Blueprint->GeneratedClass)
{
bLetOpen = EAppReturnType::Yes == FMessageDialog::Open(EAppMsgType::YesNo, LOCTEXT("FailedToLoadBlueprintWithContinue", "Blueprint could not be loaded because it derives from an invalid class. Check to make sure the parent class for this blueprint hasn't been removed! Do you want to continue (it can crash the editor)?"));
}
if (bLetOpen)
{
FBlueprintEditorModule& BlueprintEditorModule = FModuleManager::LoadModuleChecked<FBlueprintEditorModule>("Kismet");
TSharedRef< IBlueprintEditor > NewKismetEditor = BlueprintEditorModule.CreateBlueprintEditor(Mode, EditWithinLevelEditor, Blueprint, ShouldUseDataOnlyEditor(Blueprint));
}
}
else
{
FMessageDialog::Open( EAppMsgType::Ok, LOCTEXT("FailedToLoadBlueprint", "Blueprint could not be loaded because it derives from an invalid class. Check to make sure the parent class for this blueprint hasn't been removed!"));
}
}
}