PS Save AS doesn't save PDF files to same folder as original with save as original folder checked

Computer 1: Mac Tahoe 26.5.2, PS 27.8.0
Computer 2: Mac, Tahoe 26.5.2, PS 27.3.1

Computer 3: windows 11, PS 27.4.0

Save As to Original Folder does not work correctly for PDF files. 

Repro: 

• Ensure “save as to original folder” is checked in preferences->file handling
• open a pdf file from a folder
• save as tiff (or anything)

Expected: default folder for the save will be the same as original file

Actual: default folder is the last folder where PS did a save. 

PS 27.3.1 does the same thing. 

Question: How can I get PS to save to the original folder when I’m saving PDF files as TIFF?