Please solve this download button usability bug!
As a user, you don't know exactly what will happen next after a click: Can I now set and download different variants of this asset or does a direct download start immediately?
A small triangle symbol (similar to a dropdown) could suffice as a differentiating factor.
Or you can simply leave the orange download button as it is (as a direct download button), but remove the optional flyout and in these cases simply offer the user a 2nd button with "Download as ..." directly on the 1st level next to the orange button.