Launch Brave Dev in incognito mode no longer works

I have for a long time been able to launch Brave directly in incognito mode by appending --incognito to the shortcut. However, since the latest update of Brave Dev (Version 1.26.35 Chromium: 91.0.4472.57 (Official Build) dev (64-bit)), this no longer works. A brave.exe process starts, but it gets stuck in suspended state and must be killed manually. Is this a bug, or expected behavior?

OS: Windows 7 Professional SP2, 64-bit.

After a couple of updates ( currently at Brave Dev version 1.26.48, Chromium: 91.0.4472.77), this still doesn’t work. Is it intentional, or is it a bug?