Alt-scroll wheel on timeline no longer focuses on playhead

In the new version of premiere, I have trouble with the alt-scrollwheel function that I didn't have before. It used to be that I could use this to zoom in and out on the timeline to where the playhead or mouse was. Now it just focues on an ambiguous central area  of the timeline and only towards the cusor if you are over the beginning of the sequence. this is not useful for me.

How do I enable - or can we bring back - the ability to alt-scroll on the timeline to exacgly where the cursor is or where playhead is just like the handlebars do?