The <> characters are saved with equivalent HTML Entities <, > when changes are done on the grid.
Steps to Reproduce:
1. Go to the Modern UX Projects Grid.
2. Edit the project name and change it to <TEST>
3. Move to another cell so the changes are saved
Expected Results: Project name to display as <TEST>
Actual Results: Project name is saved as <TESTS>
Workaround: Perform the update to the field in the Details fly-out tab.
Targeted Fix in Release 16.0.3