You need the 1.0.1 drop from the escalation protocol boss. The one from umbral engrams is 1.0.2. They are in fact different weapons.
I just completed my wayfarer title on Saturday with the SMG being the final drop. You've got to clear wave 7 of escalation protocol; the drop comes from the boss, not the chest.
TLDR: It isn't bugged, the drop from the umbral engrams is technically a different weapon. Run EP.
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Okay that makes me feel better I’ve been checking forums about it for a while and hadn’t seen anyone get a drop. If you got it there’s still a chance for me lol.
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It definitely took me several hours of grinding to finally get the drop. Just keep zoning into the areas until you find an instance with 3+ people already running EP. I got lucky a few times and joined in at wave 7. If it makes you feel better, I tried doing the same with umbral engrams. When I noticed the SMG from that didn't count, I noticed the 1.0.1 to 1.0.2 difference and face-palmed pretty hard.
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Yeah I’ll keep at it. I never noticed the name difference until now I just figured due to season icon they weren’t the same.