Why is any child created for UnityEngine.Object always a null?

I was using Fungus plugin which is purchased by the client. I want to add a new variable for some custom changes.
I saw that Each command in here uses a generic method to populate data on editor script, the list passed turns into a dropdown and we can choose which option we would like to use.
the generic method takes a List < UnityEngine.Object > as the dropdown list.

I then wrote the following

    namespace Spine
        public class TestClass: UnityEngine.Object
            public string name;

But when i ran with the data, I always got my string value as null.
I also tested with BreakPoints and found that my string always have data, and the Object created is a "null"
this is different than null which we normally get when seeing a null data.

Also, if I try to set values in my variables, I get the nullExceptionError.

Spine.TestClass objTest = new Spine.TestClass();
//objTest.name = "objTest";
Debug.Log($"print value {objTest}");

Any advice, suggestion or help is appreciated. If we do not use the namespace, the results are the same.