"Allow users to request access" not visible when "Project visibility" is "Public"

When "Project visibility" is set to "Public" the checkbox to control "Allow users to request access" is missing:

image image

Especially for a public project I assume it makes sense to control this switch, though.

Maybe related: #32665 (closed) and !14062 (merged) which implemented the latest UI change redesigning this part of the UI.