Unable to bind "Play/Pause" media key to BTT keyboard shortcut

Describe the bug
I am unable to bind the hardware Play/Pause media key (F8) to a BTT keyboard shortcut.

Affected input device (e.g. MacBook Trackpad, Magic Mouse/Trackpad, Touch Bar, etc.):
MacBook Air built-in keyboard

Screenshots
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Device information:

  • Type of Mac: MacBook Air M1
  • macOS version: 11.0.1
  • BetterTouchTool version: 3.508

Additional information (e.g. StackTraces, related issues, screenshots, workarounds, etc.):
Similar issue: Eject Key Not Mapping

Same issue here with macOS v10.14.6, BTT v3.509.

When trying to add shortcut mapping for the media keys, nothing happens, it does not register them as a keystroke. Same with built in and external Apple keyboard.