After research some existing issues, I found the closest description of this issue is #31047, however there are some difference.
Instead of "behaving strangely", this feature now are not working at all.
Instead of macOS Sierra, this issue happened to me with MacOS Catalina.
I downloaded the insider version just now and still not working.

Mac OS version
macOS Catalina 10.15

VS code version
Version: 1.40.1
Electron: 6.1.2
Chrome: 76.0.3809.146
Node.js: 12.4.0
V8: 7.6.303.31-electron.0
OS: Darwin x64 19.0.0

Issue
Look up feature still not working with both "Force click" and "3-fingers tab".
Tried to reinstaill, still not working.

Does this issue occur when all extensions are disabled?: Yes, even when it's brand new