Why is valueParser not working in AgGrid v32

I’m using AG-Grid v32.2.1 in a grid where the value of the make column needs to be parsed before going to the server. When I use valueParser as a column setting nothing happens.

Here’s how I’m applying the setting:

<template>
  <AgGridVue
    :rowData="rowData"
    :columnDefs="colDefs"
    :gridOptions="defaultOptions"
    style="height: 500px"
    class="ag-theme-quartz"
    ref="grid"
  />
</template>

<script setup>
import { ref } from "vue";
import "ag-grid-community/styles/ag-grid.css";
import "ag-grid-community/styles/ag-theme-quartz.css";
import { AgGridVue } from "ag-grid-vue3";

const grid = ref(null);
const rowData = ref([
  { make: "Tesla", model: "Model Y", price: 64950, electric: true },
  { make: "Ford", model: "F-Series", price: 33850, electric: false },
  { make: "Toyota", model: "Corolla", price: 29600, electric: false },
]);
const colDefs = ref([
  {
    field: "make",
    cellEditor: "agSelectCellEditor",
    cellEditorParams: {
      values: rowData.value.map((item) => item.make),
    },
    valueParser: (params) => {
      return params.newValue + "[EDITED]";
    },
    editable: true,
  },
  { field: "model" },
  { field: "price" },
  { field: "electric" },
]);

let defaultOptions = {
  domLayout: "autoHeight",
  cellFlashDuration: 250,
  cellFadeDuration: 800,
  defaultColDef: {
    enableCellChangeFlash: true,
  },
};
</script>

Here is an example