The drop-down terminal window opens on the leftmost monitor for the first time.
The window can be dragged to another monitor (with alt + left mouse button drag). After hiding and showing it, it remains on the monitor it was dragged to, and it is positioned and resized correctly.
However the "Move to monitor with pointer" option seems to be not working or affecting anything.
The window will simply live on the monitor where it was dragged to, regardless to mouse cursor position.