No default frequencies in a 450b 5G SM

Noticed today while working with a 450b 5G SM that ALL frequencies are removed from the SM if it is set to factory defaults. Happening on a 450b that was upgraded from 16.2.2 to 20.2; also seeing the same on a new 450b SM on fresh out of the box.

Is this expected behavior? If so, can someone explain the reasoning behind it?