Cape name doesn't appear when equipping on custom skin in the new Dressing Room UI

When trying to equip the cape on your custom skin, the cape name doesn't appear at all, just the "By Minecraft" text appears when selecting any of the capes. This only happens on the new Dressing Room UI.

How to Reproduce
1. Go to the Dressing Room.
2. Use your custom skin.
3. Go to the capes menu and select any of the capes.

Observed Result
No cape name appears when selecting the cape.

Expected Result
The cape name should appear when selecting the cape.