If the first result in the loop doesn't have a URL set for the field it doesn't set the link for any post in the results at all.
Work around is just to temporarily add a false URL to the first result, then hit save, then remove, then every time you edit the view you need to do this in order for it to set the link.
In order to check to see if this is replicable can you provide the steps to replicate?
Is this a search view ? Is it after a search is performed and the first Post Link doesn't work ?
If you're unsure of how to replicate you can provide me with the login for the site so that I can take a look at the view. In this case I will need a link to the exact page in your screenshot.
Also if i'm unable to replicate on a clean install, then I will need a copy of your site for further debugging and submit to the 2nd tier supporters.
I have managed to replicate this on other sites, I would rather not give you a login right now as we are working on changes to this view so it might upset it.
How to replicate:
1) You want to create a view that has multiple results. Using the block editor, in the result have an image block that has a hyperlink from a custom field for the result item.
2) The first result in the view should not have this custom field filled in, so there is going to be no link on that image for the first result but the rest have links.
3) Now because of this none of the results have this image linked when you look at the view on the front end.
