\[2D]\[Sprite Shape]\[URP] SpriteShape alpha value of color not working

Using URP 2D, SpriteShape is not applying the Alpha value of its Color field to the image

Repro steps:
- Open attached project, select Closed Sprite Shape in SampleScene
- In Inspector, select Color in Sprite Shape Renderer component, observe color picker alpha is at 38 but sprite shape still looks opaque

Expected result: Sprite shape becomes more transparent with lower alpha values in Sprite Shape Renderer
Actual result: Sprite shape does not become more transparent with lower alpha values in Sprite Shape Renderer