replaceWithPlaceholder Limits Strings to 31 Bytes

When writing a script that calls replaceWithPlaceholder(), an error is thrown if the 'name' parameter is greater than 31 characters/bytes in length:

"Unable to call 'replaceWithPlaceholder' because of parameter 1. The string is too long, it can only be 31 bytes after conversion."

I've seen forum threads from 2014 regarding this, so it's a very old issue.

Thanks!