In ArcPro 2.7.1 I have replicated an issue that is driving me crazy. What I need is to be able to use the output string from the Calculate Value tool as an inline variable in the output name of the Excel file.
When I run this in model builder it outputs the correct name.
When I run as a tool in the toolbox, the value "1" is always used as the result of Calculate Value.
Result from Model Builder window:

Result from Toolbox Model (prior to publishing):

What am I missing? Is this expected behavior or a bug?
Thanks!!