Quick Export as PNG not opening same folder as PSD file

I apologize if the subject line is confusing so please allow me to explain.

When I use Quick Export as PNG it no longer opens a folder window in the same location as the PSD file in which to save as PNG. It's opening the location of the previously saved file.

Example:

I'm working on a PSD file that's saved in Folder 1. I finish working on it and save,

I switch to a PSD file that's saved in Folder 2. I try to Quick Export as PNG and the window pops up to save it in Folder 1. 

How do I get it back to automatically open  and save in the folder the PSD file is in?

I haven't changed any setting, but may have accidentally updated Photoshop overnight because it'd never acted this way.

Mac OS 13.2.1 

Photoshop 24.3.0