Application Insights not working for Azure Function local development using auto-instrumentation

Question

The following Microsoft docs comments that Application Insights can be used with local Azure Function app development (I'm working in VS2022)...

https://docs.microsoft.com/en-us/azure/azure-monitor/app/monitor-functions#:~:text=You%20can%20even%20use%20Application%20Insights%20during%20local%20function%20app%20project%20development.

... but has anyone actually been able to get this to work using auto-instrumentation https://docs.microsoft.com/en-us/azure/azure-monitor/app/codeless-overview?

I've tried with both existing and new clean projects, adding the key to local.settings.json:

{
  "Values": {
    "APPINSIGHTS_INSTRUMENTATIONKEY": "<key>"
  }
}

But when I send a request (which works fine) the request does not show up in the Application Insights instance.

My host.json is for functions version 2.0, using .NET6.0, Azure Core Tools v4. Everything works fine when I publish the app to Azure... just doesn't work locally when using Azure Core Tools to run the app.

I've exhausted google and SO searching and now i'm questioning if this is even supported?