Toggle state is not reflected in edit mode

Toggle state (Is On) is not reflected in Scene/Game view.

Steps to reproduce:
1. Create new project
2. Add Toggle (GameObject/UI/Toggle) to scene
3. Select Toggle
4. In Inspector, uncheck "Is On"
5. Observe toggle in Scene/Game view

Actual bahavior:
Toggle state is "checked" in Scene/Game view

Expected behavior:
Toggle state is "unchecked" in Scene/Game view

See attached toggle.gif

Reproducible starting from 5.4.0
Not reproducible in 5.3 and below