How to reproduce:
1. Open/create any project
2. Add a cube game object to the scene
3. In scene view press on the cube and press "a" key
4. Select "Cut"
5. Press "a" and select "Paste"

Expected result: In Hierarchy, cube object font becomes white again
Actual result: In hierarchy cube object stays in grey font (indicating, that it was cut and not pasted back)

Reproducible with: 2023.2.0a18 (No scene context menu in earlier versions)

Notes:
It's only reproducible in scene context menu. Doing the same steps with hierarchy context menu doesn't reproduce the issue
Not consistently reproducible, but even if the object becomes pasted, it does so after a slight delay