Bug or wrong setting?

I am loop recording MIDI parts using the following mode settings (Cubase 8.5.20 / Win 10 64bit):

  • MIDI Record Mode: New Parts
  • MIDI Cycle Record Mode: Mix-Stacked (no mute)

However, after recording each part version (=each loop) the first note of that new part only plays after 2 loops thereafter (the note shows up fine in the part but does not play back until the next loop). The rest of the part plays back fine immediately following that loop.

Is this a bug or do I need special setting for the first note to play immediately like the rest of that recorded part?