Precision 7680 - "Power On Lid Open | OFF" not working

I have the following settings in my BIOS (latest version 1.9.0):

My laptop is in sleep mode and the lid is closed. Then if I open the lid, and although the BIOS setting says the laptop should not power up, it is waken up from sleep. Is this a bug?

I'm using Win 10 x64 22H2.