Placeholders at the beginning of a segment not showing

When opening an XML file in Trados Studio 2019 SR2, any tags in the beginning of a segment are not shown in the editor.

Example:

In the segment below, the 3 ph tags starting the segment are removed, and only the word "auswählen is shown.

<seg mid="xxxxxxxx-xxxx-xxxx-xxxx-xxxxxxxxxxxx" isContextMatched="False" translate="yes">
<ph ctype="x-unknownattribute" gt:class="standard" gt:display-text="v-ref" gt:leftedge="round" gt:rightedge="angle" gt:type="start" gt:style="nonxlatable" gt:payload="<v-ref y.io.id="f08a2ecef001936dac1c0c0577f30e9a" y.io.version="1" y.io.language="de" y.io.variant="DE" y.io.type="swtext" y.reftype="textvar" y.id="ID_363ff717f90c11efb700bbd697ec6001" y.ref.io.types="swtext" translate="no" y.target.language="da" y.target.variant="DK" y.target.content="Parametre">" id="gt_cca9279e-4bc9-4ead-bb99-24aeb84e9dec" gt:desc="<ut Type="start" Style="nonxlatable" RightEdge="angle" DisplayText="v-ref">&lt;v-ref y.io.id="f08a2ecef001936dac1c0c0577f30e9a" y.io.version="1" y.io.language="de" y.io.variant="DE" y.io.type="swtext" y.reftype="textvar" y.id="ID_363ff717f90c11efb700bbd697ec6001" y.ref.io.types="swtext" translate="no" y.target.language="da" y.target.variant="DK" y.target.content="Parametre"&gt;</ut>"/>
<ph ctype="x-unknownattribute" gt:class="standard" gt:display-text="Parameter" gt:leftedge="split" gt:rightedge="split" gt:type="standalone" gt:style="nonxlatable" gt:payload="Parameter" id="gt_0168bdb6-8f47-4b82-b863-240f65c4dc0d" gt:desc="<ut Style="nonxlatable" LeftEdge="split" RightEdge="split" DisplayText="Parameter">Parameter</ut>"/>
<ph ctype="x-unknownattribute" gt:class="standard" gt:display-text="v-ref" gt:leftedge="angle" gt:rightedge="round" gt:type="end" gt:style="nonxlatable" gt:payload="</v-ref>" id="gt_74cd0beb-b16d-4d8f-bbfe-9b957ffa7c60" gt:desc="<ut Type="end" Style="nonxlatable" LeftEdge="angle" DisplayText="v-ref">&lt;/v-ref&gt;</ut>"/>
auswählen
</seg>
I've tried updating settings under View -> Options, and under File -> Options -> Editor -> Formatting display style, but no change. Since changing the settings doesn't have any effekt, I'm assuming that this happens during the parsing.
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