Umbral Enhancement III is bugged and doesn't affect Cold Denial or Falling Guillotine
Umbral Enhancement III is bugged and not working as expected for the season pass weapons rank up weapons, Cold Denial and Falling Guillotine. The recaster perk description states:
"Weapons obtained from Focused Umbral Engrams drop with an additional alternate final perk."
This perk works for all of the new arrival weapons except for Cold Denial and Falling Guillotine.
I tested this with Rifle, Edge, Arrival, and Pyramid-focused Umbral engrams. Whether they came from Arrival-focused engrams or Pyramid-focused, Cold Denial and Guillotine both rolled with a single final perk every time.