Is the current functionality of "Sprint Toggle" being off intended?

In Gameplay settings, there is a setting called “Sprint Toggle”. When on, it says that pressing the sprint button will toggle sprinting, and in practice, this is basically how it works. If you are moving, pressing the spring button sends you sprinting, and pressing it again makes you walk. If you stop moving, it resets your next movement to walking.

However, when off, it says that you need to continually hold the sprint button to sprint. This is not the case. As long as you press sprint once, you will continue sprinting until you stop moving, even if you have long since released the sprint button. This has bothered me since the game’s release. I want to be able to stop sprinting when I release the sprint button, and if my sprint is interrupted (e.g. by a skill, or aiming down sights), I want to pick right back up sprinting if I’m still holding the sprint button once that action is done (this already mostly works).

Does anyone know if the current functionality of this setting is intended (i.e. tap sprint once and sprint forever until you stop moving)? Or should this be filed as a bug?