Networked objects get destroyed on the local client even if room's AutoCleanUp == false

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Runtime instantiated networked objects get destroyed on the local client, when it disconnected, even if PhotonNetwork.CurrentRoom.AutoCleanUp == false. I'm pretty sure it's not what's supposed to happen, at least based on what's written in documentation.

How to reproduce:
1) Create an empty Unity project and import latest PUN2 package (I'm using Unity 2021.1.6f1 and PUN2 v2.34.1 - July 28, 2021)
2) In script (see here), create a room with roomOptions CleanupCacheOnLeave = false and PlayerTtl > 0
3) After joining room, PhotonNetwork.Instantiate a 3D Cube prefab with PhotonView on it.
4) Disconnect from the internet.

After some time client gets disconnected due to ClientTimeout, and instantiated cube gets destroyed.
I know it happens because in PhotonHandler's OnLeftRoom() method PhotonNetwork.LocalCleanupAnythingInstantiated(true) gets called, and I did get over it using custom instantiation logic. However, I doubt this is an expected behaviour.