When a versioned page first opens, the version indicated in the dropdown can be different than the page you are on

If a user lands on a versioned content page that does not match with the selected version, then the version dropdown doesn't update with the version of the page the user landed on. This is rather an improvement than a bug, as users could become confused because the information in the dropdown does not match with the content of the page.

In such use cases, the selected version should be updated with the version of the content.