That is working as designed.
Prior to 2017.3, alerting was its own section of the console and you would need to push out all the rulesets that you would like configured on the client machine.
Now in EPM 2017.3, alerting is handled by agent settings and you can configure the setting to have multiple rulesets added. This way, you can configure a workstation alert setting that has as many alert rulesets as you would like and all of those will go to the machine when you push the Change Settings task.
If you haven't already, check out the 2017.3 alerting documentation.
I found out today that Alerts AREN'T working on 2017.3 (defect 333385) as of 4/11/18.
Thanks for sharing your findings as it relates to the issues surrounding the Alerting component.
The alerting system itself is functioning. The problem associated to the defect is related to the email send functionality for Core side alerts, client side alerting is functioning as designed.
Alerting is a widely used tool that provides great benefit to our customers so we will continue to work to make this tool and the user experience better.
Thanks for the clarification, in our case, we rely on the email functionality to our support group.
We'll continue to wait, Best.