Inline math with `%\n` fails to render correctly

Here's another mean example I've tested for my survey. It's the only thing that doesn't work on GitLab backticked syntax actually:

MWE:

$`a+%
b`$

(Likewise without backticks.)

Output:

---

a+% b

---

Screenshot (Nov 2023):

Seems like newlines are elimited and the TeX is read as

a+%b

accidentally commenting out the b.