This is still an issue in 2022 release wave 2.
I did open a ticket with MS through my partner but it was not resolved and MS stopped responding about it.
The problem is that when you access the New Address form the Lookup Control and try to Save the Payload is incorrect and incomplete.
Failing Payload from Lookup Control:
{
"line1": "Test form Lookup",
"name": "Test from Lookup",
"objecttypecode": 1
}
Successful Payload from Account:
{
"line1": "Test from Account",
"name": "Test from Account",
"parentid_account@odata.bind": "/accounts(a9b26cd9-0fd8-eb11-a31a-0050568441e5)",
"objecttypecode": "account"
}
We see the error about the objecttypecode being 1 instead of Account (it would be 2 for a Contact or 4 for a Lead).
Additonally, it isn't submitting the parentid at all, fixing the objecttypecode and submitting it gets you a new error: "Parent id not set for address type 1071".