The result should be the same as ![[Title#Heading]].
The heading is missing.
“Show Inline Title” is causing the issue but I think we already agreed that for a large user base, Filename ≠ Title. That’s why “Show Inline Title” toggle was added in the first place. So the logic of linking this feature to hiding heading is incorrect.
Below is a related thread but I believe this is a bug, not a feature request.