To clarify how I encountered the problem is when I double-click on either of the VisualGDB settings\<Project>-<BuildType>.vgdbsettings files it loads the VisualGDB Project Properties panel into a tab.
I just figured out I can right-click on the project and click “VisualGDB Project Properties” to bring it up as a dialog window instead where it displays correctly.
I might have been opening it in an unintended manner.