Function v2 host ignoring applicationInsights from host.json when version information missing

A user had below configuration for a time triggered in the host.json, but function host ignored this sampling override setting, and the ping status for this function app was returning error but the time triggered function was running as expected.

User's specified host.json
{
"logging": {
"applicationInsights": {
"samplingSettings": {
"isEnabled": false
}
}
}
}

Ping Status: {
"hostState": "Error"
}