ID 520620 - Simple rendered images are no longer assigned as the thumbnail to newly created presets.

Problem summary
Simple rendered images are no longer assigned as the thumbnail to newly created presets.
 
Customer reported version
modo.16.0v3
 
Customer reported platform
windows10
 
Steps to reproduce
 
1) Open Modo, and inside of the Modo layout hold down shift and create a simple Teapot item.

2) Press F6 to open the Preset browser.

3) Go to your chosen location inside of the Preset Browser, then drag and drop the Teapot item from the Item List into the Preset Browser. Notice that the thumbnail of the created preset is a simple cube.
 
Expected behaviour
The thumbnail should be the Teapot mesh item.
 
Actual behaviour
It applies a default cube thumbnail icon.
 
Workaround
Unknown.
 
Reproduced by support
 
This bug has been reproduced in:
16.0v3 - Windows 10, macOS 11.17
16.0v1 - Windows 10, macOS 11.17-regression
 
Unable to reproduce bug in:
15.2v4 - Windows 10, macOS 11.17
 
Earliest version tested
15.2v4 - This issue doesn't appear in this version and has regressed.