Deny write to Everyone blocking also read access (icacls)

Question

I'm trying to deny only write access to some folders using:

icacls "C:\Temp\otentu\*" /deny Everyone:(OI)(CI)(W)

In effect I can't also open subfolders. When I doing this same via UI I can open them.

So after running this command when I go "Permissions" screen and just uncheck/check Deny Write and click OK I can open this folder and list items. There is no differences in checked items on "Advanced permissions" tab after this action.

C:\Temp\otentu\ is main folder with 2 subfolders, and we have two stories here:

1. Using UI I'm addig Deny Write to Everyone for one subfolder.
2. I'm calling above icacls. Screenshot is showing that result of both of them is this same for this folder - other settings are untouched. After 1 I can open subfolder, after 2 I can't.

Can someone help what I missing here?

EDIT: I run icacls "C:\Temp\otentu" /T /C /L /Q for each scenario - no difference at all. To simplify I left only one subfolder.

BEFORE:

C:\Temp\otentu BUILTIN\Administrators:(I)(OI)(CI)(F)
               NT AUTHORITY\SYSTEM:(I)(OI)(CI)(F)
               BUILTIN\Users:(I)(OI)(CI)(RX)
               NT AUTHORITY\Authenticated Users:(I)(M)
               NT AUTHORITY\Authenticated Users:(I)(OI)(CI)(IO)(M)

C:\Temp\otentu\dwa BUILTIN\Administrators:(I)(OI)(CI)(F)
                   NT AUTHORITY\SYSTEM:(I)(OI)(CI)(F)
                   BUILTIN\Users:(I)(OI)(CI)(RX)
                   NT AUTHORITY\Authenticated Users:(I)(M)
                   NT AUTHORITY\Authenticated Users:(I)(OI)(CI)(IO)(M)

AFTER UI CHANGES:

C:\Temp\otentu BUILTIN\Administrators:(I)(OI)(CI)(F)
               NT AUTHORITY\SYSTEM:(I)(OI)(CI)(F)
               BUILTIN\Users:(I)(OI)(CI)(RX)
               NT AUTHORITY\Authenticated Users:(I)(M)
               NT AUTHORITY\Authenticated Users:(I)(OI)(CI)(IO)(M)

C:\Temp\otentu\dwa Everyone:(OI)(CI)(DENY)(W)
                   BUILTIN\Administrators:(I)(OI)(CI)(F)
                   NT AUTHORITY\SYSTEM:(I)(OI)(CI)(F)
                   BUILTIN\Users:(I)(OI)(CI)(RX)
                   NT AUTHORITY\Authenticated Users:(I)(M)
                   NT AUTHORITY\Authenticated Users:(I)(OI)(CI)(IO)(M)

AFTER CMD:

C:\Temp\otentu BUILTIN\Administrators:(I)(OI)(CI)(F)
               NT AUTHORITY\SYSTEM:(I)(OI)(CI)(F)
               BUILTIN\Users:(I)(OI)(CI)(RX)
               NT AUTHORITY\Authenticated Users:(I)(M)
               NT AUTHORITY\Authenticated Users:(I)(OI)(CI)(IO)(M)

C:\Temp\otentu\dwa Everyone:(OI)(CI)(DENY)(W)
                   BUILTIN\Administrators:(I)(OI)(CI)(F)
                   NT AUTHORITY\SYSTEM:(I)(OI)(CI)(F)
                   BUILTIN\Users:(I)(OI)(CI)(RX)
                   NT AUTHORITY\Authenticated Users:(I)(M)
                   NT AUTHORITY\Authenticated Users:(I)(OI)(CI)(IO)(M)