Open clips in preview monitor in full aspect ratio?

If I'm editing a 16:9 project and have 3:2 source material, when opening a clip in the preview monitor, I see the clip in a 16:9 window, and it's shown with pillar boxes, so I can see the entire source:

3:2 content for 16:9 project

CleanShot 2024-05-23 at 18.49.59.jpg (777.87 KiB) Viewed 508 times

However when editing a 9:16 project, the preview is also 9:16, but the clip fills the frame so I can't see the entire thing:

3:2 content for 9:16 project

CleanShot 2024-05-23 at 18.50.34.jpg (347.79 KiB) Viewed 508 times

It seems the only way to see the entire source clip is by looking at the thumbnail and scrubbing that. What am I missing? Even the Project settings for scaling are set to "scale entire image to fit", so this really doesn't make sense:

project settings

CleanShot 2024-05-23 at 18.53.15.jpg (23.78 KiB) Viewed 508 times