I upgraded to PS 2022 (v23.0.0) and it looks like an old bug has resurfaced.
Expected behavior: When I click a Shape, the Properties panel should show the Shape Properties options, with things like Fill, Stroke, corner radius, etc. (Basically the same options as what appears in the top bar.)
What's happening: Some shapes will show the Masks options in the Properties panel instead of the Shape Properties options. No Fill, Stroke, etc, just Density and Feather. (I've verified that they are shapes, with the square-with-corners icon in the Layers panel.)
To reproduce: Create text object. Right-click its layer, select "Convert to Shape". Non-converted shapes (rectangles, ellipses) seem to work correctly. I've done this thousands of times in PS 2021 and 2020, and it always worked correctly.
Is anyone else having this issue? I know this bug existed for a year or two when they first introduced the Properties panel, so it's unfortunate to see it resurface again.
From engineering: "This is expected behavior. When the text is converted to shape, it remains non-live shape. To convert it into live custom shape, so that the W/H/Fill/Stroke and other properties are visible in properties panel, go to Edit > Define custom shape. This will save his shape as custom shape which is live in nature. This shape is available in the Window menu > Shapes panel."