When a Custom Sub Object (child) or Sub-Sub Object (grandchild) record has a Studio Default Value defined, the 'Copy' action from the Master/Parent record will create the copied record with the value from the Studio Default Value instead of using the Source record saved value. Custom Fields with a Studio Default Value don't exhibit this issue; the value from the source record is copied as expected.
There is the 'Investment Sub-Object' for which the 'Name' field has a default = 'New Record'.
Steps to Reproduce:
Expected Results: The 'Name' value should be the same that was entered on the source record for the sub-object, not the default value from Studio.
Actual Results: The 'Name' value on the copied records shows the default value from Studio.
Workaround: Don't define a Default Value in Studio for the 'Name' field if 'Copy' will be used. If the new record gets the default value copied, the user will need to manually update the Name field.
Targeted Fix in Release 16.1.2
When an item is copied, the value on the 'Name' field from the 'source' record is copied instead of using the Studio Default value.