That's really odd.
I tried it on 2 PCs, one with Windows 7, the other with Windows 10.
I tried it with the installer and the portable version.
I even tried earlier versions, back to the oldest available on the download page (v11.3).
The only changes in the configuration I made was unchecking "Show link target in name column".
The results were frustratingly consistent:
Toggling the option always made targets appear or disappear for symlinks to directories. But it had no effect on symlinks to files. For them the target was always displayed.
It's not as if the universe would implode, if that mystery couldn't be solved.
But it would be very convenient, if symlinks were a bit less obtrusive.
So, though I know that this question is slightly impertinent
: Did it really really ever work as intended with
file symlinks?