Strange "visual" problem when using a Multitrack Template including an Effect on the Master Track

I create a very simple weekly Podcast for my church, single voice, three music tracks.  As part of the template I created for this, I have an effect, specifically, iZotope Ozone 9 Advanced, in the Effects Rack of the Master Track.

Whether using the latest release or the latest Beta version the Input and Output meters on the Master Track Effects Rack show no movement at all, (the rack is set to "Track Effects" and not "Clip Effects") though toggling the rack on and off shows the "effect" is working, confirmed by opening the effect and studying its own input and output meters.  If I remove and reinsert the effect, with the exact same settings, the meters become "active".

Clearly this is a "visual" problem but surely should not be happening, I think?