"Zoom Full" Not Working As Expected in MIDI Editor

After updating to Cubase 8.5.15 the Zoom Full function in the MIDI Editor no longer works as expected.
Rather than zooming out to show all note events as it used to do, this function now zooms in to the first two bars.
Changing the contents of the MIDI event (e.g. number of notes, position of notes, note lengths, controller data, etc.) has no effect on the behavior.

How to reproduce the issue:

  1. Create a midi event
  2. Open it in the Midi Editor
  3. Select “Zoom Full” with the right-click context menu or with the key command Shift+F

    Cubase 8.5.15
    Win 7