Split-Screen does not save or load second player's game

When entering a world, the first player retains all his inventory, experience and location while, when a second player joins the world with split-screen, his inventory, location and experience isn't loaded and he appears like a completely new player. Restarting the game used to work to restore the second player save in the past, but after the update, nothing seems to be working, not even uninstalling and installing the game again.