I remain unconvinced of the need for a Looping region in the timeline …
Reaper, for example, manages perfectly well without one.:
a) turn on the loop “Repeat” button
b) make a selection in the waveform
c) Press Play - to get loop play of the selection
d) the selection, and thus the effective loop region, can be extended or contracted during loop play (or even moved). For me this is more than a bug - the new looping IMO is riddled with design flaws.