I'm interested in where you are coming from on this, @edpc. Are you suggesting this President not be allowed to see the report at all, or only after Congress decides what redacted version he can see? Or that Executive Privilege not be allowed?
During Nixon's Presidency, a young lawyer named Hillary Clinton pushed the idea that a President should not be allowed a Defense Counsel at all. I'm not sure that's a good direction to take.
Of course he is allowed to see the report and have counsel. Conversely, it should be made available to, at the very least, to the judiciary committees of the House and Senate. They are responsible for DOJ oversight and impeachment proceedings. As the article excerpt I cited points out, there is constitutional authority for Congress to check the Executive. Impeachment is one of the powers available.
There is an existing DOJ policy, stating a sitting president cannot be indicted. By claiming executive privilege, he would be effectively able to hide any information that may be incriminating. Perhaps there is nothing in the report that would warrant impeachment. However, that is not his call. By excluding information for review, he would be putting himself above the law.