MIDI Inserts presets dropdown/selector

Hello, all.

Any idea why my MIDI Inserts presets look like this, as opposed to the normal drop-down selector?
I’m running Cubase Pro 12, 12.0.60
macOS Monterey

Screenshot 2023-05-08 at 11.33.55

Hmm, after some digging around, I’m thinking this is a UI change from Cubase 11. Could that be it? If so, it’s not great, IMO. More clicks to open and select presets, and not as easy to quickly change between them. Also looks clunky.