Wondering if someone else can confirm this as a bug in the latest Edge Dev build 102.0.1220.1? I've been able to recreate on a couple of different machines...
The Address Bar should be able to provide suggestions from favorites, history and internet suggestions if both these features are turned on. However, I've noted in the latest build that turning on "show me search and site suggestions using my typed characters" options breaks the address bar, in that only suggestions from the Internet show, with nothing from history and favorites appearing. Turning off this feature then surfaces the suggestions from history and favorites. I can confirm that the "show me suggestions from history, favorites and other data on this device using my typed characters" is enabled in both instances, but appears to be overridden by the first option if it is enabled.
(Both set at "Privacy, search and services" > "Address bar and search".)
See attached screenshots, where in the first screenshot the history and favorites are not returned, and in the second screenshot the favorite bookmark is returned. Search term is the same - typing "tsb business" in this instance.
Can anyone else confirm this, and if so, is this a bug that the Edge team are aware of? Cheers! :)