ArgoCD not respecting timeout.reconcilation value

Checklist:

[x] I've searched in the docs and FAQ for my answer: https://bit.ly/argocd-faq. Checked this and below is the relevant section related to the bug - https://argo-cd.readthedocs.io/en/stable/faq/#how-often-does-argo-cd-check-for-changes-to-my-git-or-helm-repository
[x] I've included steps to reproduce the bug.
[x] I've pasted the output of argocd version.

Describe the bug

Gitlab server is getting overloaded due to frequent calls from argocd repo server. Tried testing changing timeout.reconcilation to 0 in config map and restarted argo-controller and argo-repo-server but the issue persists.

To Reproduce

Deploy ArgoCD using publicly available ArgoCD helm chart on a Kubernetes cluster
Create a few applications to fetch directories from private gitlab repo
Modify the config map values to make timeout.reconcilation equal to 0 [Also tried with 0s]

Expected behavior Post changing timeout.reconcilation to 0 and restarting argo-controller pod and argo-repo-server pod, one should not be seeing any calls being made to the gitlab repo as polling is disabled.

Version v2.4.15

argocd-server: v2.4.15+05acf7a
BuildDate: 2022-10-17T20:32:39Z
GitCommit: 05acf7a52e377eacfee29c68e3e5e79a172ea013
GitTreeState: clean
GoVersion: go1.18.7
Compiler: gc
Platform: linux/amd64
Kustomize Version: v4.4.1 2021-11-11T23:36:27Z
Helm Version: v3.8.1+g5cb9af4
Kubectl Version: v0.23.1
Jsonnet Version: v0.18.0

$ printenv | grep -i timeout
ARGOCD_RECONCILIATION_TIMEOUT=0

$kubectl describe cm argocd-cm | grep timeout -A 2
timeout.reconciliation:
----
0

argoproj / argo-cd

ArgoCD not respecting timeout.reconcilation value #12692