Problem with VSDevCmd.bat in VS 16.7.3

I have problems with a VSDevCmd.bat in my TCC 26.00.31

The following line eliminates the equal sign.
set "%__NORMALIZE_VAR%=%__NORMALIZE_VAR_CONTENT:~0,-1%"
This lines expands to something like

set LIB^__NORMALIZE_VAR_CONTENT:~0,-1

Why?
My fix is this:

set "__NORMALIZE_VAR=%1"
call set "__NORMALIZE_VAR_CONTENT=%%%__NORMALIZE_VAR%%%"

if "%__NORMALIZE_VAR_CONTENT:~-1%"==";" (
if not "%_4VER%"=="" (
set "%__NORMALIZE_VAR%%@char[%@ascii[=]]%__NORMALIZE_VAR_CONTENT:~0,-1%"...

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