Ping Object yellow frame is drawn incorrectly in the Project Window

Steps to reproduce:

1. Create a new Material
2. Select it to have it visible in the Inspector
3. Click on the three vertical dot menu in the top-right
4. Select Ping
5. Observe the Project Window (make sure it is set to Two Column Layout)

Expected result: the yellow frame is drawn around the entire filename

Actual result: the yellow frame appears as a little blob of lines in the middle of text and the filename is draw twice with an offset

 

Reproducible with: 2023.2.0a1