Edge Beta (112.0.1722.31) not honoring no background in edge://newtab

Hello,

Currently with Edge Beta (112.0.1722.31), when one selects No Background under Page Settings | Background | Edit Background, the next time one visits a new tab or edge://newtab one will see an background. This user preference to opt into No Background is not honored. This seems like a recent regression. 

This is reproducible under: Edge Beta (112.0.1722.31)