How to reproduce:
1. Open the “MoveToolTest” project
2. Open the “Test1” Scene in the “Scenes” folder
3. Select the “Elevator” GameObject
4. Move it towards the positive-Y direction by dragging the Transform Component’s Y label
5. Observe expected behavior
6. Move it back down to the starting position by dragging the Transform Component’s Y label
7. Slowly move it towards the positive-Y direction using the Move tool in the Scene view
8. Observe actual behavior

Expected result: GameObject’s local position gets set to “0” after a new parent is assigned and the “Elevator” moves smoothly
Actual result: The Move tool reverts GameObject’s local position after a new parent is assigned, and the “Elevator” teleports up by 4 units

Reproduced with: 2021.3.32f1, 2022.3.13f1, 2023.1.19f, 2023.2.0f1, 2023.3.0a13

Reproduced on: Windows 10 (by reporter), Windows 11
Not Reproducible on: No other environment tested