It was fixed in PSM versions up to 5.0.7 on the LTS line and 5.8.0 on the feature product line.
As a workaround please log in to the core shell and execute the following:
rm /var/lib/snmp/snmpapp.conf
Dong so will stop the false e-mail warnings immediately.
By deleting this automatically created wrong snmp config file one allows the next run of snmp to re-create it correctly.