Windows 10: gitlab-runner ConfigFile defaults to $PWD

I have gitlab-runner installed and running through Powershell (run as Administrator). From the command line, if I’m in the same folder as the config.toml, then gitlab-runner list will show the runner that I registered and started. However, if I change directories and run the same command, no runner is found. It also always prints the current directory as the value for ConfigFile.
This isn’t the case for Mac so it seems that either I’ve misconfigured something or it’s a bug?