"material" is cut off from the name

Steps to reproduce:

• Create/open a 3D project
• In Material Browser, right click "Default Material" or any self created material that is named "xxx material".
• Choose "Add to Content Library"
• In Content Library - User Assets, right click the added material and choose "Add an instance to project"
• -> Material gets name "My Default"/"My xxx". For some reason, "material" is cut off from the name.