There seems to be a little bug in Godot 4.0.2: after deselecting ‘editable children’ the scene view doesn’t update to show the removal of edits - even though when I run the scene it does reflect the removal of edits. If I re-select ‘editable children’ the properties show my edits - incorrectly. It’s like the edits are disabled but remain cached somewhere.
To solve this simply close the scene and reopen it after deselecting ‘editable children’.