"Disable cache" has no effect

Brave 1.66.118 Chromium: 125.0.6422.147 (Official Build) (64-bit)
Revision 07af53490e0a52336cfb99a376f87671be258049
(Running on Fedora Linux)

The “Disable cache” checkbox has no effect. With previous versions of Brave, this feature seemed to be working just fine.

What’s weird is I can see in my server logs that the HTTP request is actually being performed as expected, and the page does not refresh until the request is completed, also as expected. But the resulting display is the cached data. On Chrome and Firefox the new version of the page is correctly fetched.

Using Ctrl + Shift + R gives the same outcome. Anybody come across this before?