How to reproduce:
1. Ensure that the “Graphics Tools” optional feature is installed through Windows Settings (System → Optional Features)
2. Create and open a new project
3. Open the Player settings (Edit -> Project Settings -> Player)
4. In the "Other settings" section, uncheck "Auto Graphics API for Windows"
5. Select the "+" under "Graphics API for Windows" and add Direct3D12
6. Select Direct3D11 from the list and press the "-" button
7. After restarting the Editor, build the project (File → Build Profiles → Build)
8. Once the build finishes, navigate to the build folder in Windows Explorer
9. Right-click and select “Open in Terminal”
10. In the terminal window, enter “.\<ProjectName>.exe -force-d3d12-debug” and press Enter
11. Open the Player.log file (%USERPROFILE%\AppData\LocalLow\DefaultCompany\<ProjectName>\Player.log)
12. Observe the result

Actual result: In the Direct3D section of the Player.log, the version is listed as "Direct3D 11.0"
Expected result: The Direct3D version shown is 12

Reproducible with: 2023.1.0a4, 6000.0.71f1, 6000.3.0b6 (211490bb75a6)
Not reproducible with: 6000.3.11f1, 6000.40f1, 6000.5.0a9, 6000.6.0a1
Fixed in: 6000.3.0b7

Reproducible on: Windows 11
Not reproducible on: No other environments tested

Note: Enabling Development Build does not fix the issue