When I lay text flat (like on the Police Baron), it seems to be off by roughly 1/2 the character height. It is too high, and also not far enough forward. When I correct for this by 1/2 the height, it is almost in the correct position, but not quite.

This is due to the default text rendering tweaks I add. I only had those accounting for Y-position as I only tested on vertical text. Ooops.

Fixed in 20.3.0.