The query processor ran out of stack space during query optimization" error is encountered when creating a backup of a database with many filegroups. (4377499)

The query processor ran out of stack space during query optimization" error is encountered when creating a backup of a database with many filegroups.

Replication steps - 

• Create a large number of file groups (the issue starts manifesting at above 2000-2200 on current dev machines, but it varies with available memory)
• Perform a backup of this database
• The backup “The query processor ran out of stack space during query optimization. Please simplify the query.” error is encountered

The error is visible in LiteSpeed logs.