I set the ThumbnailCutoff registry value for "Folder" file type to 2. According to this documentation page, folder thumbnails should not be shown on icons below 48x48 px. Why then the folders are still shown as thumbnails if the icon size is 32x32?

Yes, I refreshed the thumbnail cache.

Yes, I refreshed the thumbnail cache.
My Computer
System One
-
- OS
- Windows 11