Bookmarks in folders are listed in reverse order on iPhone 15 Pro

I just migrated from an iPhone 11 Pro running iOS 17.0.1 to a just released iPhone 15 Pro. Surprisingly, when I look at my bookmarks, those in each folder shown in exactly the reverse order than they are on my other Apple devices, such as my Mac, my iPhone 11 Pro, my iPad Pro. Of course the order they show on the other devices is what I've carefully maintained for a long period of time.

To give an example, in my Favorites folder, there is Folder 1, a bookmark, Folder 2, Folder 3, etc. These items show in the correct order in Safari on my iPhone 15 Pro.

But if I go into Folder 1, all the bookmarks and folders within that folder are shown in Safari in exactly the reverse order. What should be Item 1 is instead shown at the bottom of the list of items. All the items are shown in exactly the reverse order. This is also true for Folder 2, etc.

I turned off Safari syncing on the new iPhone and agreed to have all the local data deleted. I then turned it back on. To my great surprise, it synced perfectly (it seems) but what is shown in Safari continues exactly as I described above: within a given folder, all the items are shown in reverse order.

Glad to provide more information if that's helpful.