Cannot change reference material type and save project

1) Import model

2) Set a material for one of the meshes

3) Set material from step #2 as a reference in reference material for some other mesh

4) Save project

5) Try changing reference type in the reference material from step #3 to another

6) Not able to save the project, reference type does not seem to change in the reference material

Expected to be able to change reference type and save the changes