Version: InDesign, version 16.4 on Mac OS Big Sur, version 11.6

I am encountering an issue involving text frames that do not retain their object style settings when inserted and/or saved within object libraries. Font/paragraph styles are unaffected, but object style attributes such as vertical justification, text wrap, fill, stroke and inset spacing are all lost (revert to defaults) upon being added to the library. The same is true for settings made while editing the library items directly.

This problem only involves individual text frames, and does not seem to affect any other type of graphic added to the library (including image frames and text frames that have been grouped with other objects), which do hold onto their settings as expected.

Steps to reproduce the issue: (Specific settings listed are not necessary to reproduce the problem, but are provided to show each of the different settings)
1. Create new object library
2. In new document, draw in text frame with sample text.
3. In Properties, set Fill to any color; In Text Wrap, set to "Wrap Around Bounding Box"; In Text Frame Options, set vertical justification to bottom, and inset spacing to any value.
4. Insert text frame into the new library (all object settings listed in step 3 will have reverted to defaults, leaving the text frame that was just inserted into the library as it appeared after step 2).
5. Double click on the item within the library to open for editing, and re-apply all the object settings listed in step 3. Save and close. (All object settings will again revert to defaults, leaving the text frame exactly as it appeared after step 2).

Expected result: The text frame, upon being inserted into the library, should retain all of its settings and appear exactly as it did originally.

Actual result: While paragraph styles are unaffected, object style settings including fill, stroke, vertical justification, inset spacing and text wrap all revert to defaults.