Timer UEV event comes simultaneously with OC event, even though periods are different

Below is timer configuration generated by Cube for F103. The idea is to have it count all the way while input capture on CH2 will be resetting it to 0 using TI2FP2 and slave reset mode. The CH1 is configured for output compare to generate event when counter reaches 1/5 of the ARR.

TIM_SlaveConfigTypeDef sSlaveConfig = {0};
 TIM_MasterConfigTypeDef sMasterConfig = {0};
 TIM_OC_InitTypeDef sConfigOC = {0};
 TIM_IC_InitTypeDef sConfigIC = {0};
 TIM_BreakDeadTimeConfigTypeDef sBreakDeadTimeConfig = {0};
 
 htim1.Instance = TIM1;
 htim1.Init.Prescaler = 5493;
 htim1.Init.CounterMode = TIM_COUNTERMODE_UP;
 htim1.Init.Period = 65535;
 htim1.Init.ClockDivision = TIM_CLOCKDIVISION_DIV1;
 htim1.Init.RepetitionCounter = 0;
 htim1.Init.AutoReloadPreload = TIM_AUTORELOAD_PRELOAD_DISABLE;
 if (HAL_TIM_Base_Init(&htim1) != HAL_OK)
 {
 Error_Handler();
 }
 if (HAL_TIM_OC_Init(&htim1) != HAL_OK)
 {
 Error_Handler();
 }
 if (HAL_TIM_IC_Init(&htim1) != HAL_OK)
 {
 Error_Handler();
 }
 sSlaveConfig.SlaveMode = TIM_SLAVEMODE_RESET;
 sSlaveConfig.InputTrigger = TIM_TS_TI2FP2;
 sSlaveConfig.TriggerPolarity = TIM_INPUTCHANNELPOLARITY_RISING;
 sSlaveConfig.TriggerFilter = 0;
 if (HAL_TIM_SlaveConfigSynchro(&htim1, &sSlaveConfig) != HAL_OK)
 {
 Error_Handler();
 }
 sMasterConfig.MasterOutputTrigger = TIM_TRGO_RESET;
 sMasterConfig.MasterSlaveMode = TIM_MASTERSLAVEMODE_DISABLE;
 if (HAL_TIMEx_MasterConfigSynchronization(&htim1, &sMasterConfig) != HAL_OK)
 {
 Error_Handler();
 }
 sConfigOC.OCMode = TIM_OCMODE_TIMING;
 sConfigOC.Pulse = 13107;
 sConfigOC.OCPolarity = TIM_OCPOLARITY_LOW;
 sConfigOC.OCNPolarity = TIM_OCNPOLARITY_HIGH;
 sConfigOC.OCFastMode = TIM_OCFAST_DISABLE;
 sConfigOC.OCIdleState = TIM_OCIDLESTATE_RESET;
 sConfigOC.OCNIdleState = TIM_OCNIDLESTATE_RESET;
 if (HAL_TIM_OC_ConfigChannel(&htim1, &sConfigOC, TIM_CHANNEL_1) != HAL_OK)
 {
 Error_Handler();
 }
 sConfigIC.ICPolarity = TIM_INPUTCHANNELPOLARITY_RISING;
 sConfigIC.ICSelection = TIM_ICSELECTION_DIRECTTI;
 sConfigIC.ICPrescaler = TIM_ICPSC_DIV1;
 sConfigIC.ICFilter = 0;
 if (HAL_TIM_IC_ConfigChannel(&htim1, &sConfigIC, TIM_CHANNEL_2) != HAL_OK)
 {
 Error_Handler();
 }
 sBreakDeadTimeConfig.OffStateRunMode = TIM_OSSR_DISABLE;
 sBreakDeadTimeConfig.OffStateIDLEMode = TIM_OSSI_DISABLE;
 sBreakDeadTimeConfig.LockLevel = TIM_LOCKLEVEL_OFF;
 sBreakDeadTimeConfig.DeadTime = 0;
 sBreakDeadTimeConfig.BreakState = TIM_BREAK_DISABLE;
 sBreakDeadTimeConfig.BreakPolarity = TIM_BREAKPOLARITY_HIGH;
 sBreakDeadTimeConfig.AutomaticOutput = TIM_AUTOMATICOUTPUT_DISABLE;
 if (HAL_TIMEx_ConfigBreakDeadTime(&htim1, &sBreakDeadTimeConfig) != HAL_OK)
 {
 Error_Handler();
 }

These are initialization calls and event handlers:

HAL_TIM_OC_Start_IT(&htim1, TIM_CHANNEL_1);
HAL_TIM_Base_Start_IT(&htim1);
 
void HAL_TIM_OC_DelayElapsedCallback(TIM_HandleTypeDef *htim)
{
 printf("OC %lu\r\n", HAL_GetTick());
}
 
void HAL_TIM_PeriodElapsedCallback(TIM_HandleTypeDef *htim)
{
 printf("UEV %lu\r\n", HAL_GetTick());
}

Observed behavior is that both events come almost simultaneously every 5 seconds, instead of OC coming after 1 sec and UEV 4 seconds later.