Beta 12: convert to default formatting

I have my set my default formatting to include a Line & Paragraph Spacing of 17.5pt which makes the text nicely readable. I have set this to be a universal default format (ie not specific to a particular document).

I have just noticed that when I attempted to convert some writing in a new project to the default format, the typeface and size converted properly but the line spacing had to be converted manually.

Is this a bug or am I misunderstanding, or failing to do, something?

This has been previously reported, and seems to have persisted. Any news about whether it’s being looked into?