When changing the cheat with the title: "Do Daylight Cycle" it also toggles the cheat with the title: "Always Day." This was not an issue before the 1.16.0.60 update on Thursday, May 7th, 2020 (EDT). This is most certainly a bug because with the "Always Day" option forced to be enabled users cannot set the time to whatever they want and simultaneously not have to worry about the daylight cycle.

EDIT:

It appears this bug only takes effect when the initial activation of the cheat "Always Day" has occurred. Once that is activated the bug is in affect and cannot be disabled (as seen in the most recent attachment).