Direct Edit: content not updated when keys are managed

On a Nuxeo instance 10.10 where:
nuxeo.core.binarymanager=org.nuxeo.ecm.blob.s3.S3BlobProvider
nuxeo.core.blobstore.keyStrategy=managed

Using Direct edit on a doc. Each time we save locally the document, drive attempts to update it server side. User does receive a notification that the document has been updated, and we can see an update event logged on the document, but the content hasn't changed and remain the original one prior to edit.