Variable in working directory not evaluated during run

Using variables like %{ActiveProject:BuildConfig:Path} or %{buildDir} in the working directory field of a run configuration does not work anymore.

Hovering over the field with a variable shows the correct path in a tooltip, but when trying to start the build executable, it fails with the message: "Failed to start program. Path or permissions wrong?"

Activating the "Run in terminal" option indicates that the variable is not replaced: "Cannot change to working directory "%{ActiveProject:BuildConfig:Path}""