ID 481261 - Scalar Data appears to incorrectly apply a double transform

Problem summary
Scalar Data appears to incorrectly apply a double transform

Customer reported version
Mari 4.7v3

Customer reported platform
Windows 10

Steps to reproduce

1. Open any project

2. Create a Paint node filled with 0.5 grey value, set to Scalar Data

3. View the Paint node and drag over the 0.5 grey colour swatch

Notice; The Paint node colour and swatch are visually mismatched

3. Repeat with a Paint node filled with 0.5, 0.5, 1 values

Expected behaviour
The viewed Paint node colour should match the colour of the swatch:
4.7v2 (0.5,0.5,0.5)

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4.7v2 (0.5,0.5,1.0)

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Actual behaviour
The Paint node colour does not match the swatch:

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Workaround
Unknown.

Reproduced by support
This bug has been reproduced in:
Mari 4.7v3 - Windows - CentOS 7.7

Unable to reproduce bug in:
Mari 4.7v2 - Windows - CentOS 7.7

Earliest version tested
Mari 4.7v2 - This issue doesn't appear in this version and has regressed