Many thanks to Markku (VA3MK) who writes:

New Icom IC-705 firmware has been posted for version 1.24.

IC-705 | Firmware / Software | Support | Icom Inc. (icomjapan.com)

Changes from Version 1.20

– Improved the Scope function of the RS-BA1.
– Supports a 64-digit hexadecimal format WPA/WPA2 Password.

Thank you for the tip, Markku!