Why is warning displayed when the version is up to date?

[munrobasher]

Is this by design or maybe a fault? PnP.PowerShell v2.12.0 is installed but I still get the warning:

Does it always display the warning (once) immaterial of what version is installed? I appreciate you can disable the warning but TBH I'd like the warning when it's valid, i.e. there is a newer version.