Autocorrect apply not smartening quotation marks

I tried to use the autocorrect apply feature from the menu particularly to smarten apostrophes and quotations marks, but it is not working.
The language is English UK, and the paragraph style is Default.
###EDIT
I tried to select the text, choose Tools, Autocorrect, Apply to turn straight apostrophe and quotation marks into twisted ones. Examples:

it’s → It’s; “Lorem Ipsum” → “Lorem ipsum”

Autocorrect works properly while typing replacing the straight marks to typographic ones, but not when applied later.
###EDIT 2
These are the Autocorrect, localised options:

Read these guidelines and ask a good question. In particular:

  1. What do you mean under to smarten apostrophes and quotations marks?
  2. What exactly did you try?
  3. What did you want to achieve?
  4. What is not working?

Also, share a sample file.

I tried to select the text, choose Tools, Autocorrect, Apply to turn straight apostrophe and quotation marks into twisted ones. Example: it’s → It’s; “Lorem Ipsum” → “Lorem ipsum”.

In the Autocorrect options window (Tools or Edit → Autocorrect → Autocorrect options), go to the Localized options tab and check if the desired replacement options are enabled for single/double quotes for your language. Modify as necessary.

See my edited question.

Your edit does not have sufficient information. What are the settings in the tab that I have mentioned in my answer?

Instead of the defaults, set the desired replacement options explicitly.

That did the trick, but why on earth does the same setting function in one way when typing and in another when applied in retrospect? Sounds like a bug to me.

Well, at least, inconsistent behavior. You can file an RFE.

https://bugs.documentfoundation.org/show_bug.cgi?id=128192