Phone-Type Designations Next to Phone Numbers in Contacts All Changed to "Phone"

I had a designation next to every phone number in my contacts as to what type of phone number it is (mobile, home, work, etc.).

A couple weeks ago, I noticed that all of these designations have been changed to just "Phone". So, if I had two numbers for someone (mobile and home for example), they are now both just labeled as "Phone". This change was visible on my iPhone and MacBookPro, but all the correct designations were still there when I looked online in my icloud account. I was hoping it was a software-update bug and would be fixed. But as of today, even in my online icloud account they all just say "Phone."

I am curious if this is happening to other people, and if there's a way to restore the designations.

My iPhone is a 12 Pro Max running iOS 17.2.1

My MacBook Pro is a 2015 running 12.7.1