The behavior you show kind of made sense to me at first (at least if the top picture represented <= 50% and the bottom picture would be > 50%, but not necessarily for 51% & 52%). What I was thinking maybe HP was doing, for a single cycle burst of a square wave, for the whole waveform to be high more than 50% of the time, it would have to start high then go low and then back high. The top screenshot (<=50) starts low, goes high, then low. The bottom screenshot (>50) starts high, goes low, then high. Also, on the bottom screenshot, it changes on the back half of the cycle (notice both screenshots waveforms go low at the same point in the overall cycle), while the top screenshot appears to change in the first half of the cycle. But...then I tried it on my Siglent SDG2042X, and that is not the behavior I get at all. Regardless of the duty cycle, it always starts low, goes high, then back low for a single cycle burst of a square wave (at least with the settings the same as yours).
I'm still not entirely sure its a bug though, maybe just different philosophies on how it should be done?