Regression. Instance record (detailed view). Nature of content value does not display term, but a dash

Overview: Nature of content reference values are not populating value.

Step to reproduce:

1. Login to FOLIO Snapshot, go to Inventory
2. When editing any instance record, and add data for Nature of content, and select any value from the drop down menu, e.g. Comic (book) and Save and update the instance record

Expected result
Then the instance in detailed view displays Comic (book) as value for Nature of content.

Actual result:
I can update the Instance record with the Nature of content term in edit mode, and save and update the record, but my change is not being populated, and viewable in detailed view. What is see - instead of the assigned term in Nature of content term (Comic (book)), is a dash being displayed. If I go back and double check if my update has been saved correctly, then I do see the value 'Comic (book)' in edit mode.