If we use relationship fields in a form, the option for deselecting an incorrect choice is confusing, potentially error-prone, and inconsistent compared to the process of selecting a choice. See video below with examples.
This isn’t a major blocker that’s halting progress. But an annoying issue we’d love to see improved.
Connected to new release of Relation Fields on March 26th: 🆕 Relation fields in the new record experience
Please allow me to publicly acknowledge that this is not actually a bug. This is a lack of understanding and not realizing all of the features which are available as part of this new release.
Within 1hr of posting (and that being after 10pm in Munich!) Leo had sent over a message with a video detailing how I could accomplish what I needed here by using the
Edit Field Display 
Layout Dropdown Display As Select
Those changes have allowed me to accomplish what I thought was missing here. Thanks @Leo!