magento2: URL key/SEO friendly URL not used for products when in single-store mode

Preconditions (*)

1. Magento v2.3.2
2. Single-store Mode (Stores > Configuration > General > Single-Store Mode)

Steps to reproduce (*)

1. Add product to site using /V1/products (catalogProductRepositoryV1) via swagger
2. Example JSON: { "product": { "sku": "TestApi", "name": " API Test", "attribute_set_id": 4, "price": 0.75, "status": 1, "visibility": 4, "type_id": "simple", "created_at": "2019-07-23 16:25:27", "updated_at": "2019-07-23 16:25:27", "extension_attributes": { "website_ids": [ 1 ], "stock_item": { "qty": 99999, "is_in_stock": true, "use_config_min_qty": true, "min_qty": 0, "use_config_min_sale_qty": 1, "min_sale_qty": 1, "use_config_max_sale_qty": true, "max_sale_qty": 10000, "use_config_backorders": false, "backorders": 0, "use_config_notify_stock_qty": true, "notify_stock_qty": 1, "use_config_qty_increments": true, "qty_increments": 0, "use_config_enable_qty_inc": true, "enable_qty_increments": false, "use_config_manage_stock": true, "manage_stock": true } } } }
3. Search for product on frontend of site
4. Click product and review URL used

Expected result (*)

1. URL key is generated for product based on product name. In admin:

On Frontend:

Actual result (*)

1. URL key is correctly generated and appears in admin

2. On frontend the URL key is not used and instead the fallback is to use entity_id