Error on instance : Exception (org.mozilla.javascript.JavaScriptException: java.lang.NullPointerException) occured while evaluating'Condition: new UpdateSetBackOutVisible().shouldInformMissing(current)' in business rule 'Notice on hidden back out'

The following error is seen on the instance 

Exception (org.mozilla.javascript.JavaScriptException: java.lang.NullPointerException) occured while evaluating'Condition: new UpdateSetBackOutVisible().shouldInformMissing(current)' in business rule 'Notice on hidden back out'

Above errors are found for update sets and some tables

Other issues exprienced could be 
-- Unable to update personalize list columns

-- published Reports show URL as NULL.

The probable root cause of the issue was the dictionary column sys_metadata.sys_class_name is set to inactive (i.e active = false)

https://<instance>.service-now.com/sys_dictionary_list.do?sysparm_query=nameSTARTSWITHsys_metadata%5EelementSTARTSWITHsys_class_name

This dictionary record for column sys_metadata.sys_class_name should never be set to active = false , should always be active = true.