runtime: System.Private.CoreLib.csproj fails to load in System.Private.CoreLib.sln without global installations of nightly/preview SDK

The project fails to load with the log Project "C:\users\gotos\source\repos\runtime\src\coreclr\src\System.Private.CoreLib\codeOptimization.targets" was not imported by "C:\users\gotos\source\repos\runtime\src\coreclr\src\System.Private.CoreLib\System.Private.CoreLib.csproj" at (401,3), due to the file not existing.. This is after building Clr+Libs subset successfully, via build -subset Clr+Libs -runtimeConfig Release on a clean repo.

The said codeOptimization.targets file indeed does not seem to exist in the specified folder.