Improperly reclassifying Cookies setting "Clear on exit" to "Allow" (Major Error)

In "Cookies and site data", when adding an entry to "Clear on exit", if the option to "include third-party cookies on this site" is checked, then Edge instead adds it as "Allow", the wrong functionality.
Worse, Edge had silently reclassified all of my many previous "Clear on exit" settings to Allow because they had that option checked, breaking the functionality, so I had to manually delete and then add them without that option to work around the problem.

Edge, Version 120.0.2210.121 (Official build) (64-bit)
OS Name Microsoft Windows 10 Pro, Version 10.0.19045 Build 19045