How to fix the «Missed phrase» exception on running the «bin/magento i18n:collect-phrases» command?

It looks like a bug in Magento 2 core.
It is reproduced when the core tries to translate an empty string (in a way like this: __('')) from a third-party extension (or a design theme).

It is not reproduced if a system contains only the core Magento 2 modules.
It is not reproduced if a system contains only the core Magento 2 modules and Mage2.PRO extensions:

So it is a bug in the core, but in is caused by a third-party extension.
I recommend to look the installed third-part extensions (and design themes) source code for the empty translation expressions like __('').