The setting UI for the new 1.50.114 “HTTPS by Default” feature will only appear if chrome://flags/#https-by-default is enabled — is this by-design?

Version 1.50.114 has a new feature:

However, the new ‘Upgrade connections to HTTPS’ setting in brave://settings/shields will only appear if chrome://flags/#https-by-default is set to ‘Enabled’. Setting it back to ‘Default’ will remove the ‘Upgrade connections to HTTPS’ setting in brave://settings/shields.

This seems unusual. Is this by-design? I am using
Brave version 1.50.114 Chromium: 112.0.5615.49 (Official Build) (64-bit) on Windows 10.