XSPF playlist image not loaded

Pasted below is my playlist file (removed some tracks to keep this short). Notice the <image> tag as a child of <playlist>.

From the spec:

URI of an image to display in the absence of a //playlist/trackList/image element.

<?xml version="1.0" encoding="UTF-8"?>
<playlist version="1" xmlns="http://xspf.org/ns/0/">
    <title>Chelsea Wolfe - Quiet and Dark</title>
    <image>Chelsea%20Wolfe%20-%20Birth%20Of%20Violence%20%20%202019%2FScans%2FCover.jpg</image>
    <trackList>
        <track>
            <location>CHELSEA%20WOLFE%20-%20DISCOGRAPHY%20(2006-15)%20%5BCHANNEL%20NEO%5D%2F%5B2009%5D%20Tour%202009%20%5BEP%5D%2F02%20-%20Underwater.mp3</location>
        </track>
        <track>
            <location>CHELSEA%20WOLFE%20-%20DISCOGRAPHY%20(2006-15)%20%5BCHANNEL%20NEO%5D%2F%5B2012%5D%20Live%20at%20Roadburn%2F02%20-%20Movie%20Screen.mp3</location>
        </track>
        <track>
            <location>CHELSEA%20WOLFE%20-%20DISCOGRAPHY%20(2006-15)%20%5BCHANNEL%20NEO%5D%2F%5B2011%5D%20Apokalypsis%2F03%20-%20Tracks%20(Tall%20Bodies).mp3</location>
        </track>
    </trackList>
</playlist>

The playlist file is stored at /home/dsilva/Music/Chelsea Wolfe. All paths are relative.

Decoded image path:

<image>Chelsea Wolfe - Birth Of Violence   2019/Scans/Cover.jpg</image>

The image exists in the specified location:

$ pwd
/home/dsilva/Music/Chelsea Wolfe/Chelsea Wolfe - Birth Of Violence   2019/Scans
$ ls
CD.jpg  Cover.jpg  Folder.jpg  Label.jpg

And here is the playlist loaded in VLC:

Notice that the currently playing track has no image — so it should fallback to the playlist image, but the playlist "Information" window doesn't load the expected playlist image.

• VLC 3.0.21 on Linux