TinyMCE Link > Settings > Open link in a new tab checkbox is not working

Hello,

I believe the TinyMCE Link > Settings > Open link in a new tab option is not working. For example, here is a link to Google that I created using the TinyMCE Link button that is configured to open in a new tab: Google in a new tab.

The link above will not open in a new tab.

Here is the screenshot of the Insert/Edit Link popup:

Thanks,

@awijasa