Wrapped Lore lines not retaining formatting on new lines

Lore lines do not retain formatting across new lines. Additionally, the {wrap=} argument counts the formatting chars towards the wrap ( counts as 5 chars)

[Legacy attachment omitted]

lcc_items:
  Lines:
  - '<white><lore.stats>'
  - ''
  - '<lore.Description{wrap=40}>'

wand_basic_nature_cherry:
  ItemVersion: 2
  Id: warped_fungus_on_a_stick
  Data: 0
  Display: 'Basic Nature Wand'
  Model: 3
  Generation:
    Parent: 'item/handheld'
    Texture: 'item/wand_basic_nature_cherry'
  Enchantments:
  NBT:
    Base:
      shopItemId: wand_basic_nature_cherry
  Lore:
    Template: lcc_items
    Description: "<dark_gray>This is the best wand of all time, favored by the only royalties of old. Fear the power it bestows."