MFA Email Customization - application.name only displays the tenant name

I have setup an email provider in our auth0 tenant (sendgrid).
I notice when I try to use the {{application.name}} common variable the tenant name shows up instead of the specific application. The application has a specific name and I am testing the email MFA during the login process (not the TRY button in auth0).

Do MFA Emails have certain variables that are not available?

Did you find a solution to this? We’re facing the same problem

I opened a ticket and this was the response yesterday.
This is a known bug for us and it has been moved to the top of our backlog.

They cant provide an ETA on when it will be fixed.

This still appears to be an issue - any update on this?