Verified on 4.9.5 with latest with ztp container image built from latest release-4.9 branch. Default channels are now as expected.
Since the problem described in this bug report should be resolved in a recent advisory, it has been closed with a resolution of ERRATA. For information on the advisory (OpenShift Container Platform 4.9.6 bug fix update), and where to find the updated files, follow the link below. If the solution does not work for you, open a new bug report. https://access.redhat.com/errata/RHBA-2021:4119