diff --git a/scripts/build/TestPlatform.Dependencies.props b/scripts/build/TestPlatform.Dependencies.props
index 288d633c84..fde8e257c3 100644
--- a/scripts/build/TestPlatform.Dependencies.props
+++ b/scripts/build/TestPlatform.Dependencies.props
@@ -11,7 +11,7 @@
     <!-- this version also needs to be "statically" readable because the test fixture will inspect this file for the version 
     and because during the test `dotnet test` will run and re-build some of the test projects and at that time the version 
     from a build parameter would not be available, so I am writing this version from the build.ps1 script to keep it in sync --> 
-    <NETTestSdkVersion>16.7.0-dev</NETTestSdkVersion>
+    <NETTestSdkVersion>16.7.1-dev</NETTestSdkVersion>
 
     <MSTestFrameworkVersion>2.1.0</MSTestFrameworkVersion>
     <MSTestAdapterVersion>2.1.0</MSTestAdapterVersion>
diff --git a/scripts/build/TestPlatform.Settings.targets b/scripts/build/TestPlatform.Settings.targets
index 3cea7cbf3e..ab042be951 100644
--- a/scripts/build/TestPlatform.Settings.targets
+++ b/scripts/build/TestPlatform.Settings.targets
@@ -5,7 +5,7 @@
     <!-- This version is read by vsts-prebuild.ps1 and is a base for the current version, this should be updated
     at the start of new iteration to the goal number. This is also used to version the local packages. This version needs to be statically
     readable when we read the file as xml, don't move it to a .props file, unless you change the build server process -->
-    <TPVersionPrefix>16.7.0</TPVersionPrefix>
+    <TPVersionPrefix>16.7.1</TPVersionPrefix>
   </PropertyGroup>
   <PropertyGroup>
     <!-- Versioning is defined from the build script. Use a default dev build if it's not defined.
diff --git a/src/DataCollectors/TraceDataCollector/VanguardCollector/DynamicCoverageDataCollectorImpl.cs b/src/DataCollectors/TraceDataCollector/VanguardCollector/DynamicCoverageDataCollectorImpl.cs
index 40a8a9a38f..6d0e0b56ee 100644
--- a/src/DataCollectors/TraceDataCollector/VanguardCollector/DynamicCoverageDataCollectorImpl.cs
+++ b/src/DataCollectors/TraceDataCollector/VanguardCollector/DynamicCoverageDataCollectorImpl.cs
@@ -112,8 +112,14 @@ public virtual void Initialize(
 
             try
             {
-                var processor = new CodeCoverageRunSettingsProcessor(defaultConfigurationElement);
-                configurationElement = (XmlElement)processor.Process(configurationElement);
+                // WARNING: Do NOT remove this function call !!!
+                //
+                // Due to a dependency we took on Microsoft.TestPlatform.Utilities.dll, an
+                // exception may be thrown if we cannot resolve CodeCoverageRunSettingsProcessor.
+                // If such an exception is thrown we cannot catch it in this try-catch block
+                // because all method dependencies must be resolved before the method call, thus
+                // we introduced an additional layer of indirection.
+                configurationElement = this.AddDefaultExclusions(configurationElement, defaultConfigurationElement);
             }
             catch (Exception ex)
             {
@@ -326,5 +332,17 @@ private void CreateDirectory(DataCollectionContext context, string path)
                 throw;
             }
         }
+
+        /// <summary>
+        /// Adding default exclusions to the configuration element.
+        /// </summary>
+        /// <param name="configurationElement">The configuration element.</param>
+        /// <param name="defaultConfigurationElement">The default configuration element.</param>
+        /// <returns>The original configuration element with additional default exclusions.</returns>
+        private XmlElement AddDefaultExclusions(XmlElement configurationElement, XmlElement defaultConfigurationElement)
+        {
+            var processor = new CodeCoverageRunSettingsProcessor(defaultConfigurationElement);
+            return (XmlElement)processor.Process(configurationElement);
+        }
     }
 }
\ No newline at end of file