Add description to custom taxonomy admin metabox

I’ve created a custom taxonomy:

add_action( 'init', 'create_collection_taxonomies', 0 );
function create_collection_taxonomies() {
    $labels = array(
        'name'                       => _x( 'Collection Tags', 'taxonomy general name' ),
        'singular_name'              => _x( 'Collection Tag', 'taxonomy singular name' ),
        'search_items'               => __( 'Search Collection Tags' ),
        'popular_items'              => __( 'Popular Collection Tags' ),
        'all_items'                  => __( 'All Collection Tags' ),
        'parent_item'                => __( 'Parent Collection Tag' ),
        'parent_item_colon'          => __( 'Parent Collection Tag' ),
        'edit_item'                  => __( 'Edit Collection Tag' ),
        'update_item'                => __( 'Update Collection Tag' ),
        'add_new_item'               => __( 'Add New Collection Tag' ),
        'new_item_name'              => __( 'New Collection Tag Name' ),
        'menu_name'                  => __( 'Collections Tags' ),
    );

    $args = array(
        'description'           => 'Used to select promo/video for display in app.',
        'hierarchical'          => true,
        'labels'                => $labels,
        'show_ui'               => true,
        'show_admin_column'     => true,
        'query_var'             => true,
        'rewrite'               => array( 'slug' => 'CollectionTag' ),
    );

    register_taxonomy( 'CollectionTag', array('collection', 'videos', 'promos'), $args );
}

I added the description argument thinking it would appear in the taxonomy metabox in the WP admin; however, that doesn’t seem to be the case.

I did find this post from 2011, saying I would have to use jQuery to get a description added to the box, but it seems odd we can define a description without being able to use it.

Am I misunderstanding the purpose of this argument from what I’m reading in the Codex? How do I get this description to appear within the meta box for this taxonomy?