Thank you for contacting Syncfusion support.
We have checked the reported issue based on your provided screenshot & code example with the latest version and the model value is properly binded & working fine in our end. However, we suspect that you have binding the empty string value to the color picker and this may cause the error in your case. This issue is a known issue and its fix is already included in our product version (v184.108.40.206).
So, we suggest you to upgrade to the latest version of Essential Studio version (>=v220.127.116.11) if you faced the same issue which is demonstrated in the below stackblitz Issue replicated sample link.
Runnable sample Link:
Change Log Link:
Help Doc Link:
Could you please check the above samples & links and get back to us, if you still getting the issue after upgraded or if we misunderstood your exact reported issue. If possible, please replicate your issue in the above working sample and revert back to us, so that only we can analyze based on that and provide you a better solution. The information provided would be great help for us to resolve your issue.