Taxonomy pages crash with layout_builder enabled

When the layout_builder module is enabled, trying to view a term page crashes with:

Drupal\Component\Plugin\Exception\ContextException: Assigned contexts were not satisfied: entity in Drupal\Core\Plugin\Context\ContextHandler->applyContextMapping() (line 101 of /var/www/html/web/core/lib/Drupal/Core/Plugin/Context/ContextHandler.php).

Steps to reproduce

1. Activate layout_builder
2. Create a vocabulary and term
3. View the term page