Some Unicode space category characters are not being replaced by TRANSLATE or REPLACE

I have the defined a function dbo.ufnRemoveSpaceCharacters to remove all characters under the Unicode category Zs (Space Characters). All 17 of the characters able to be replaced/translated using REPLACE and TRANSLATE when they are the only character in the string (NCHAR(1) or NVARCHAR(1)), but when the characters are combined into a string, such as a a (where the space/dash is the Ogham Space Mark 0x1680), the character is NOT replaced. The following characters are not replaced/translated Ogham Space Mark 0x1680, Narrow No Break Space 0x202F, Medium Mathematical Space 0x205F.

DROP FUNCTION IF EXISTS dbo.ufnRemoveSpaceCharacters
GO

CREATE FUNCTION dbo.ufnRemoveSpaceCharacters(@Value NVARCHAR(MAX))  
RETURNS NVARCHAR(MAX)
AS   
BEGIN  
    DECLARE @Space NCHAR = NCHAR(0x0020);
    DECLARE @NoBreakSpace NCHAR = NCHAR(0x00A0);
    DECLARE @OghamSpaceMark NCHAR = NCHAR(0x1680);
    DECLARE @EnQuad NCHAR = NCHAR(0x2000);
    DECLARE @EmQuad NCHAR = NCHAR(0x2001);
    DECLARE @EnSpace NCHAR = NCHAR(0x2002);
    DECLARE @EmSpace NCHAR = NCHAR(0x2003);
    DECLARE @ThreePerEmSpace NCHAR = NCHAR(0x2004);
    DECLARE @FourPerEmSpace NCHAR = NCHAR(0x2005);
    DECLARE @SixPerEmSpace NCHAR = NCHAR(0x2006);
    DECLARE @FigureSpace NCHAR = NCHAR(0x2007);
    DECLARE @PunctuationSpace NCHAR = NCHAR(0x2008);
    DECLARE @ThinSpace NCHAR = NCHAR(0x2009);
    DECLARE @HairSpace NCHAR = NCHAR(0x200A);
    DECLARE @NarrowNoBreakSpace NCHAR = NCHAR(0x202F);
    DECLARE @MediumMathematicalSpace NCHAR = NCHAR(0x205F);
    DECLARE @IdeographicSpace NCHAR = NCHAR(0x3000);

    DECLARE @SpaceCharacters NVARCHAR(17) =
        @Space + @NoBreakSpace + @OghamSpaceMark + @EnQuad 
      + @EmQuad + @EnSpace + @EmSpace + @ThreePerEmSpace 
      + @FourPerEmSpace + @SixPerEmSpace + @FigureSpace 
      + @PunctuationSpace + @ThinSpace + @HairSpace 
      + @NarrowNoBreakSpace + @MediumMathematicalSpace + @IdeographicSpace;

    DECLARE @ReplacePhrase NVARCHAR(17) = N'aaaaaaaaaaaaaaaaa';

    RETURN REPLACE(TRANSLATE(@Value, @SpaceCharacters, @ReplacePhrase), @Space,  '')
END
GO

You can reproduce this by using the following

DECLARE @Space NCHAR = NCHAR(0x0020);
DECLARE @NoBreakSpace NCHAR = NCHAR(0x00A0);
DECLARE @OghamSpaceMark NCHAR = NCHAR(0x1680);
DECLARE @EnQuad NCHAR = NCHAR(0x2000);
DECLARE @EmQuad NCHAR = NCHAR(0x2001);
DECLARE @EnSpace NCHAR = NCHAR(0x2002);
DECLARE @EmSpace NCHAR = NCHAR(0x2003);
DECLARE @ThreePerEmSpace NCHAR = NCHAR(0x2004);
DECLARE @FourPerEmSpace NCHAR = NCHAR(0x2005);
DECLARE @SixPerEmSpace NCHAR = NCHAR(0x2006);
DECLARE @FigureSpace NCHAR = NCHAR(0x2007);
DECLARE @PunctuationSpace NCHAR = NCHAR(0x2008);
DECLARE @ThinSpace NCHAR = NCHAR(0x2009);
DECLARE @HairSpace NCHAR = NCHAR(0x200A);
DECLARE @NarrowNoBreakSpace NCHAR = NCHAR(0x202F);
DECLARE @MediumMathematicalSpace NCHAR = NCHAR(0x205F);
DECLARE @IdeographicSpace NCHAR = NCHAR(0x3000);

DECLARE @SpaceCharacters NVARCHAR(17) =
    @Space + @NoBreakSpace + @OghamSpaceMark + @EnQuad 
    + @EmQuad + @EnSpace + @EmSpace + @ThreePerEmSpace 
    + @FourPerEmSpace + @SixPerEmSpace + @FigureSpace 
    + @PunctuationSpace + @ThinSpace + @HairSpace 
    + @NarrowNoBreakSpace + @MediumMathematicalSpace + @IdeographicSpace;

SELECT REPLACE(@OghamSpaceMark, @OghamSpaceMark, 'a'), 
       TRANSLATE(@OghamSpaceMark, @OghamSpaceMark, 'a'),
       REPLACE(@Space + @OghamSpaceMark, @OghamSpaceMark, 'a'), 
       TRANSLATE(@Space + @OghamSpaceMark + @Space, @OghamSpaceMark, 'a'),
       dbo.ufnRemoveSpaceCharacters(@SpaceCharacters),
       REPLACE(@SpaceCharacters, @OghamSpaceMark, 'a')

with output

I also ran the following to provide additional info

SELECT os_language_version,
       SERVERPROPERTY('LCID') AS 'Instance-LCID',
       SERVERPROPERTY('Collation') AS 'Instance-Collation',
       SERVERPROPERTY('ComparisonStyle') AS 'Instance-ComparisonStyle',
       SERVERPROPERTY('SqlSortOrder') AS 'Instance-SqlSortOrder',
       SERVERPROPERTY('SqlSortOrderName') AS 'Instance-SqlSortOrderName',
       SERVERPROPERTY('SqlCharSet') AS 'Instance-SqlCharSet',
       SERVERPROPERTY('SqlCharSetName') AS 'Instance-SqlCharSetName',
       DATABASEPROPERTYEX(N'{database_name}', 'LCID') AS 'Database-LCID',
       DATABASEPROPERTYEX(N'{database_name}', 'Collation') AS 'Database-Collation',
       DATABASEPROPERTYEX(N'{database_name}', 'ComparisonStyle') AS 'Database-ComparisonStyle',
       DATABASEPROPERTYEX(N'{database_name}', 'SQLSortOrder') AS 'Database-SQLSortOrder'
FROM sys.dm_os_windows_info;

with output