I know that you probably used the word because it was a short and handy way of transmitting what you think, but, just to clarify...I don't expect this will ever be fixed, after all, it isn't meant for real world usage, but it just doesn't look right the way it works.
As I said before, the Type=Peak in AudioLevel does not need to be "fixed" just because it doesn't have a Hold setting, and whether it looks right or not is an entirely subjective matter.
Take a look here, they have professional references at the end of the page, so I reckon most of it is the standard there:
https://www.mathworks.com/help/audio/ref/audiolevelmeter-system-object.html
Nowhere on that page is a "hold peak" property mentioned, so peaks behave more or less like AudioLevel ones (bar some differences in the log10 formulas, by briefly looking at the AudioLevel source code I mentioned earlier).
On the other hand, here is an opposite example, where a hold setting does exist:
https://obsproject.com/kb/audio-mixer-technical-details
So, basically, having a hold or not has nothing to do with being right / wrong or correct / incorrect from a professional perspective, in order to need "fixing", it's simply a convenient setting to have for the user to better be aware of what the peak level is - given our "delayed" reaction when we see something (e.g. seeing right away, comprehending taking a while, translating into numbers taking a while, comparing the numbers with some other point of reference also taking a while, etc). We as humans, generally need the peak to hold because we're too slow to do the entire thinking process above in real time, or better said, as fast as the non-holding peaks move.
Statistics: Posted by Yincognito — Yesterday, 8:48 pm