Label on Callout Effects Rendering of Inner Content

Open a blank note and paste in the following text:

> [!note]
> - Here is some text.
>   - Here is some more text.
>
>     This is even more text.

This renders fine, and as expected. However now if we add a label to the callout

> [!note]
> - Here is some text.
>   - Here is some more text.
>
>     This is even more text.
^label

some of the text in the callout is displayed as a code block:

The desired result is of course for it to look like this:

(which is what is displayed when the label is not there).

Note that in my testing in a fresh empty vault, I realised this problem doesn’t occur in live preview, only in reading mode.