diff --git a/src/System.CommandLine.Tests/CustomParsingTests.cs b/src/System.CommandLine.Tests/CustomParsingTests.cs
index 7a1d14936d..dcc7fce18a 100644
--- a/src/System.CommandLine.Tests/CustomParsingTests.cs
+++ b/src/System.CommandLine.Tests/CustomParsingTests.cs
@@ -561,6 +561,23 @@ public void Custom_parser_is_called_once_per_parse_operation_when_input_is_provi
         i.Should().Be(2);
     }
 
+    [Fact] // https://github.com/dotnet/command-line-api/issues/2743
+    public void Setting_CustomParser_to_null_reverts_to_default_parsing()
+    {
+        Argument<int> argument = new("int")
+        {
+            CustomParser = (_) => 0
+        };
+
+        argument.CustomParser = null;
+
+        var command = new RootCommand { argument };
+
+        var result = command.Parse("123");
+
+        result.GetValue(argument).Should().Be(123);
+    }
+
     [Fact]
     public void Default_value_factory_is_called_once_per_parse_operation_when_no_input_is_provided()
     {
diff --git a/src/System.CommandLine/Argument{T}.cs b/src/System.CommandLine/Argument{T}.cs
index 999ac5604f..2ea7b3d726 100644
--- a/src/System.CommandLine/Argument{T}.cs
+++ b/src/System.CommandLine/Argument{T}.cs
@@ -78,6 +78,10 @@ public Func<ArgumentResult, T>? DefaultValueFactory
                         }
                     };
                 }
+                else
+                {
+                    ConvertArguments = null;
+                }
             }
         }
 
diff --git a/src/System.CommandLine/Invocation/InvocationPipeline.cs b/src/System.CommandLine/Invocation/InvocationPipeline.cs
index c41d2686d6..a2b50afe9c 100644
--- a/src/System.CommandLine/Invocation/InvocationPipeline.cs
+++ b/src/System.CommandLine/Invocation/InvocationPipeline.cs
@@ -44,21 +44,22 @@ internal static async Task<int> InvokeAsync(ParseResult parseResult, Cancellatio
                         return syncAction.Invoke(parseResult);
 
                     case AsynchronousCommandLineAction asyncAction:
-                        var startedInvocation = asyncAction.InvokeAsync(parseResult, cts.Token);
-
                         var timeout = parseResult.InvocationConfiguration.ProcessTerminationTimeout;
 
                         if (timeout.HasValue)
                         {
-                            terminationHandler = new(cts, startedInvocation, timeout.Value);
+                            terminationHandler = new(cts, timeout.Value);
                         }
 
+                        var startedInvocation = asyncAction.InvokeAsync(parseResult, cts.Token);
+
                         if (terminationHandler is null)
                         {
                             return await startedInvocation;
                         }
                         else
                         {
+                            terminationHandler.StartedHandler = startedInvocation;
                             // Handlers may not implement cancellation.
                             // In such cases, when CancelOnProcessTermination is configured and user presses Ctrl+C,
                             // ProcessTerminationCompletionSource completes first, with the result equal to native exit code for given signal.
diff --git a/src/System.CommandLine/Invocation/ProcessTerminationHandler.cs b/src/System.CommandLine/Invocation/ProcessTerminationHandler.cs
index ead35b4eb0..3ff7e7c8ee 100644
--- a/src/System.CommandLine/Invocation/ProcessTerminationHandler.cs
+++ b/src/System.CommandLine/Invocation/ProcessTerminationHandler.cs
@@ -14,20 +14,20 @@ internal sealed class ProcessTerminationHandler : IDisposable
         
     internal readonly TaskCompletionSource<int> ProcessTerminationCompletionSource;
     private readonly CancellationTokenSource _handlerCancellationTokenSource;
-    private readonly Task<int> _startedHandler;
+    private Task<int>? _startedHandler;
     private readonly TimeSpan _processTerminationTimeout;
 #if NET7_0_OR_GREATER
     private readonly IDisposable? _sigIntRegistration, _sigTermRegistration;
 #endif
-        
+
+    internal Task<int> StartedHandler { set => Volatile.Write(ref _startedHandler, value); }
+
     internal ProcessTerminationHandler(
         CancellationTokenSource handlerCancellationTokenSource, 
-        Task<int> startedHandler,
         TimeSpan processTerminationTimeout)
     {
         ProcessTerminationCompletionSource = new ();
         _handlerCancellationTokenSource = handlerCancellationTokenSource;
-        _startedHandler = startedHandler;
         _processTerminationTimeout = processTerminationTimeout;
 
 #if NET7_0_OR_GREATER // we prefer the new API as they allow for cancelling SIGTERM
@@ -86,8 +86,9 @@ void Cancel(int forcedTerminationExitCode)
 
         try
         {
+            var startedHandler = Volatile.Read(ref _startedHandler);
             // wait for the configured interval
-            if (!_startedHandler.Wait(_processTerminationTimeout))
+            if (startedHandler is null || !startedHandler.Wait(_processTerminationTimeout))
             {
                 // if the handler does not finish within configured time,
                 // use the completion source to signal forced completion (preserving native exit code)