When you change the writing format of your Official Name in your profile settings, the new setting is not being applied to the address field at the bottom. There the name stays the same no matter what you set the Official Name to.
For example, given a full name like ‘Long John Silver’ (fictional) it is displayed as ‘Long Silver’ while the official name is set to ‘L.S. Silver’. When it is set to include the full names it remains limited to only the first and last name.
It may be only a visual bug 🐛 in the settings view because the name is correctly written on the invoices and PDF statements.