Error message: Index was out of range. Must be non-negative and less then the size of the collect (4046563)

During Replication the followig error occurs.  "Error message: Index was out of range. Must be non-negative and less then the size of the collection."

One or more of the disks attached to a VM has the independent check box selected.

1. Shutdown the VM in question
2. Right-Click the VM and select “Edit Settings”
3. Select the HDD(s) with Independent check box selected and Uncheck the “Independent” check box
4. Press “OK”
5. Power on VM and test the replication job.

This is a defect in 5.3.x. / 5.4.x.