Sharepoint List Update in Batch Mode does not work

[linus1984]

Issue
The example code from the help does not work as expected:
https://pnp.github.io/powershell/cmdlets/Set-PnPListItem.html?q=set-pnplistitem

When I execute this code not in batch mode but directly (If the -Batch parameter is removed from Set-PnPListItem, then it works, but very slowly, as it commits each item separately.)

Versions
PowerShell 7.2.1
PnP.PowerShell 1.9.0

Code
$values=@{}
$values["Territory"]="EMEA"
$batch = New-PnPBatch

for($i=0;$i -lt 5;$i++)
{
Set-PnPListItem -List "SalesList" -Identity $i -Values $values -Batch $batch
}
Invoke-PnPBatch -Batch $batch

Result
Set-PnPListItem:
Line |
4 | Set-PnPListItem -List "IO WW Backlog" -Identity $i -Values $value …
| ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
| Cannot find item with Identity PnP.PowerShell.Commands.Base.PipeBinds.ListItemPipeBind
Set-PnPListItem:
Line |
4 | Set-PnPListItem -List "IO WW Backlog" -Identity $i -Values $value …
| ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
| Parameter count mismatch.
Set-PnPListItem:
Line |
4 | Set-PnPListItem -List "IO WW Backlog" -Identity $i -Values $value …
| ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
| Parameter count mismatch.
Set-PnPListItem:
Line |
4 | Set-PnPListItem -List "IO WW Backlog" -Identity $i -Values $value …
| ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
| Parameter count mismatch.
Set-PnPListItem:
Line |
4 | Set-PnPListItem -List "IO WW Backlog" -Identity $i -Values $value …
| ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
| Parameter count mismatch.

[linus1984]

What I can confirm in the meantime is that Add-PnPListItem with the -Batch parameter works as described in the documentation.
However, Set-PnPListItem does not work.