calendar shows repeating entry only on first day

I received an invite for an all day event, that is repeated for one day. But in the overview, it only shows on the first day:

There is, however a next occurrence:

I am running Sequoia 15.6 and iOs 18.6.1 and both show the same.

Probably relevant:

DTSTART;VALUE=DATE:20250819

DTSTAMP:20250818T114906Z

LAST-MODIFIED:20250818T114042Z

RRULE:FREQ=DAILY;UNTIL=20250819

X-MICROSOFT-DISALLOW-COUNTER:FALSE

X-MICROSOFT-CDO-ALLDAYEVENT:TRUE

DTEND;VALUE=DATE:20250820

It looks like a meeting that takes two days, but has a daily repeat that ends on the first day. As a result, it isn't shown on the second day even if the meeting itself extends onto the second day. That seems like (I know a silly meeting) a bug to me.

[Edited by Moderator]