If a project's status report is more current and is set to either 'Draft' or blank , then it will display on the tile as the most recent status.
It should be the 'Overall Status' from the status report that has the report status = Final.
Release : 15.7.1
Component : CA PPM SAAS PROJECT MANAGEMENT
This is by design.
The Overal Status is taken from the latest updates from the status report list, and not from the status report in the 'Final' status.