Part of the first wave of Studio Series Deluxe Class toys, Bumblebee recycles the engineering of The Last Knight Premier Edition Bumblebee, with a new vehicle shell and some body parts (mostly the lower section) that make Bumblebee slightly smaller than the original mold and thus more to scale with the Studio Series toys. He transforms into a yellow 1977 Chevrolet Camaro based on his appearance in the first live-action Transformers movie in 22 steps and includes a cardboard backdrop display depicting his encounter with Barricade. He also includes a blaster similar to the one from the Premier Edition figure, though slightly downscaled, with a different connection point and a slightly altered mirrored sculpt, similar to the Movie The Best War Hammer Bumblebee toy. The leg joints' floppy connection is also amended from the previous mold. Bumblebee features a fake front grill on his robot mode chest, which the real grill slides over in vehicle mode. He also features rectangular holes on his lower front bumper, the rocker panels, the rear end of the front hood, and the lower valance. The Stinger Blaster can be mounted onto the rear bumper.
Depending on the individual sample's quality control, Bumblebee has some problems with parts (notably the rear section of the vehicle) refusing to lock together and continually detaching from their proper position thanks to some tolerance issues. His lack of pins on the car roof, combined with said quality control issues, make the transformation absolute hell if followed by the instructions. Thankfully, ways have been found to transform him to help remedy this problem. Additionally, while converting into both modes, don't flip the lower yellow leg pieces first or after within contact distance at the same time; Doing so can collide both parts and leaves a small but glaring paint chip. The only way to avoid this issue is by leaving the pieces untransformed/flipped back before you separate/reconnect the rear halves.
Bumblebee, along with the rest of Wave 1 Deluxes, was made available at Hasbro Toy Shop following New York Toy Fair 2018, two months ahead of the scheduled brick and mortar release. The second run of the toy features a running change that eventually amends the quality control issues that plagued the first run. The fixed version's date code is written as "80201". Sadly some copies carrying this code still have the QC issues from the original figure.