Why is the 16550 Compatible UART Intel® FPGA IP not able to transmit and receive characters when operated as loopback mode?

Description

Due to a synthesis issue, the 16550 Compatible UART Intel® FPGA IP is not functioning properly in the Intel® Quartus®  Prime Pro Edition Software version.  It doesn't transmit and receive characters properly. Furthermore, it cannot loopback characters properly when operated in loopback mode.

Resolution

To work around this problem, follow these steps:

1. Use Intel® Quartus® Prime Standard Edition Software since the 16550 Compatible UART Intel® FPGA IP functions properly. 
2. In Intel® Quartus® Prime Pro Edition Software, replace the 16550 Compatible UART Intel® FPGA IP files with the files available in this link.

This problem is fixed starting with the Intel® Quartus® Prime Pro Edition Software version 17.1