Pressing the "Sync now" button in Android Studio doesn't trigger an action in QTTAS plugin

When we make changes to the build.gradle file, Android Studio prompts with an option to sync the gradle file with the new changes as shown below.

However, pressing the Sync now button doesn't seem to trigger any action which the QTTAS plugin uses to modify the IDE settings with the new values.

Pressing the Gradle Sync button in the IDE however does trigger the action.

This seems to be an IntelliJ bug which needs to be reported there.