Manual update not working in 4.7.x

Just updated a couple of sites to 4.7.1 and manually updating the blacklist from the Discussion Settings screen is not longer working. The “Blacklist terms were updated successfully” status is displayed, but the list itself does not get updated.

I am waiting to see if the automatic updating works, but I’m unsure when that actually occurs.

This issue may have been introduced in an earlier version of WordPress, but I can‘t confirm that because I updated to 4.7.x from a much earlier version of WP.