If there is no audit data to capture and why this is even getting stored as a record in backend. Also it is confusing users when seeing a blank entry in UI as well. Only MS can answer this.
The rootcause I noticed is, when the audit is enabled in Org level and entity level, but disabled on an attribute level - and when that attribute is only changed in a transaction, then there is a chance of blank row and changedData column is empty along with empty AttributeMask column.
If you want to understand more deeply how these delimited values are stored in auditbase table - read my answer in this thread. I explained how this data can be restructured again and make a sense out of it.
There is an usual ask in client projects and community - how can we query the audit data and build a PowerBI report on top of it.
We can use SDK method also on-demand to decipher the audit data and mimic how CRM UI Audit summary is generated. I have played around Audit for quite some time - it is always interesting to explore the internal mechanics of Dynamics :)

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