Position Code Attribute is not working in VBS Business Rules on Create New Position page

Problem Statement: We have a requirement to Default the Position Name with Position Code & some other attributes on Redwood Create New Position Page.

Current Configuration:

Position Code generation is Automatic and will be displayed on Create New Position Page prior to submission.

However, when we try to reference the Position Code in order to default the Position Name through VBS Business Rules of defaulting appears blank / has no value at runtime.

1. Is this expected behavior because Position Code is generated automatically and the value is not available as a readable variable to default other fields until the record is committed to the database