CONCAT_NULL_YIELDS_NULL value different in UI than in query?

I look at the database properties through SSMS explorer, right-click on database - right-click on properties. I see the value concat_null_yields_null with the value of false.

When I run the queries in either SSMS or using sqlcmd

SELECT   SESSIONPROPERTY ('CONCAT_NULL_YIELDS_NULL') 

DECLARE @CONCAT_NULL_YIELDS_NULL VARCHAR(3) = 'OFF';
IF ( (4096 & @@OPTIONS) = 4096 ) SET @CONCAT_NULL_YIELDS_NULL = 'ON';
SELECT @CONCAT_NULL_YIELDS_NULL AS CONCAT_NULL_YIELDS_NULL;

I see the value 1 and ON, which means true. I can verify the property is indeed set to ON by running the query SELECT NULL + 'ABC'; which returns null.

Why do I see the value of false in the UI? Am I misunderstand something?

Thanks.