Adobe Default for Leica M11 DNG Import applies Adobe Standard and not Adobe Color Profile

When importing Leica M11 DNG files using Adobe Default (as shown in the Preferences / Presets -- Global setting) Adobe Standard is applied as the Profile instead of Adobe Color.  When I create and specify a Preset which specifically uses Adobe Color as the Profile, Adobe Standard is still applied.  If I specify to use Camera Setting, then the embedded M11 profile is correctly applied.  

As a work-around,  I can indeed force the Adobe Color profile to be applied if I specify it as the Apply During Import - Development Setting (right-hand panel when importing) and select under the Defaults presets - Adobe Color + Lens or similar.