Italic tags only work for the first line of text when the text's Wrap is set to normal

Reproduction steps:
1. Open project “Bug Test”
2. Observe the Game View

Expected result: Italic tag is applied to all text
Actual result: Italic tag is applied to the first line of text only

Reproducible with: 2022.2.0a9, 2022.2.2f1, 2023.1.0a24
Not reproducible with: 2021.3.16f1, 2022.2.0a8
Couldn’t test with: 2020.3.43f1 (The text doesn’t show up in Game View)

Reproducible on: macOS Catalina 10.15.7 (Intel)

Note:

• Not reproduced when text’s Wrap is set to “nowrap”
• Couldn’t test for WebGL platform (built Unity project wouldn’t load)

Link to forum: https://forum.unity.com/threads/2022-2-italic-tag-only-works-on-the-first-line-of-a-label-set-to-wrap-normal.1373196/