Hello @abhishek_kumar1 ,
I was able to reproduce the error you have reported on my side, so I have opened an internal ticket for that.
Util we investigate what is causing this behavior, I've found a couple of workarounds for this.
1. You can remove the Profiler0 output from the profiler block. by unchecking the "Profile Output" option in the block. This will no longer provide an output but you will be able to find the execution time in the FreeMaster project by typing the profile_buffer[0]

2. Treating the Subsystem of the referenced model as atomic subsystem. (Right clock on it and check the "treat as atomic unit")

I have also removed the Reference configuration from the top model, but this was required only for me to be able to generate the code.
Hope this helps,
Marius