Photos 6.0 app on Big Sur doesn't export keywords in EXIF data

So I think I've found a bug in Apple Photos Version 6.0 (321.0.110) on macOS Big Sur v11.1. Or perhaps I'm doing something wrong?

1) Inside the Photos app, tag a photo with a keyword. Also give the photo a title and a caption.

2) Select File->Export->Export 1 photo

3) In the Export dialog, select "Photo Kind: JPEG"

4) In the Export dialog, make sure that "Include: Title, Keywords, and Caption" is checked

5) Click the Export button

6) Select an appropriate destination folder (e.g., Desktop) and click Export

6) Open the exported JPEG file in Preview (or any other app that allows viewing keywords in the EXIF data)

Expected Result: The keyword is present in the EXIF data. These steps used to work for me on MacOS 10.15 Catalina.

Actual Result: The keyword is missing from the EXIF data

I'm guessing that this is just a bug in the new Photos app? Or am I missing some step that is now necessary for exporting photos with keywords?