This is known behavior. The way to deal with messages like this is to move them to the desired folder rather than use undelete. Since the message was never in any other folder (sieve suppressed storing it in the Inbox or another folder as usual) the concept of reversing a delete is actually meaningless.
It would be nice if undelete was grayed out when focused on a message for which undelete is meaningless, but the way it works now is otherwise logical.
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