Disabling "show read receipts sent by other users" does not work in threads

[jonnyandrew]

Steps to reproduce

1. Go to settings > preferences
2. Disable "Show read receipts sent by other users"
3. Open a thread containing messages that another user has seen

Outcome

What did you expect?

The read receipt avatars are not displayed in the thread

What happened instead?

The read receipt avatars are displayed in the thread

Operating system

Ubuntu

Application version

Element Nightly version: 2023031301 Olm version: 3.2.12

How did you install the app?

Ubuntu APT

Homeserver

matrix.org

Will you send logs?

No