Unable to save edits and markups in Preview when using grayscale images

Ever since upgrading to macOS Sonoma, I have been unable to to save markups and edits when dealing with grayscale images in Preview. The only workaround I've been able to find is to open these grayscale images in Photoshop, change the colour profile to RGB, save, and reopen in Preview. This issue never occurred prior to upgrading to macOS Sonoma.

If I make edits and/or markups and try to save, I receive the first popup, or if I try to exit Preview after making edits and/or markups, I receive the second popup.