Steps to reproduce:
1. Open the attached “UpdateCatalogTest.zip“ project
2. Enable Hosting from the Addressable Hosting Window
3. Select “Assets/[filename]”, change Max Size to 2048, and click Apply
4. Open “Assets/AddressableAssetsData/AssetGroups/Default Local Group” in the Inspector Window
5. Find the “Bundle Naming Mode” setting and set it to “Use Hash of Filename”
6. In the Addressable Group Window, select Build → “New Build” → “Default Build Script”
7. Build and Run the project
8. Press the top-most button
9. Observe that the Sprite with size of 2048 is instantiated
10. Select “Assets/[filename]”, change Max Size to 32, and click Apply
11. In the Addressable Group Window, select Build -> “Update a Previous Build”
12. Go back to the Player
13. Press the bottom-most button
14. Press the top-most button again
15. Observe the instantiated Sprite

Expected result: The instantiated Sprite is of size 32
Actual result: The instantiated Sprite is of size 2048

Reproducible in: 1.21.1 (2021.3.47f1), 1.21.20 (2021.3.47f1), 1.22.3 (2022.3.56f1, 2021.3.47f1)
Couldn’t test in: 2.0.3 (6000.0.34f1), 2.3.7 (6000.0.34f1, 6000.1.0b3) (because Addressables Hosting Window is removed)

Reproducible on: Windows 11, macOS (Silicon)
Not reproducible on: No other environment tested

Notes:

* The size is applied correctly when using “Append Hash to Filename” in the “Bundle Naming Mode“ setting
* Top-most button is “Instantiate” and bottom-most button is “Update Catalog” but are not shown