Add hyperlinks to Media browser images with CKEditor

Problem/Motivation

I would like to link images to a hyperlink like so:

<p><a data-entity-substitution="file" data-entity-type="file" data-entity-uuid="8f9fc629-ecc1-4344-9d2d-31d86056792a" href="#"><img alt="OQL - Bll of Lading" data-entity-type="file" data-entity-uuid="88843db5-2ef0-4747-a709-48c477a018f0" src="/sites/default/files/inline-images/oql-bill-of-lading_png.png" /></a></p>

Currently it is not possible to add hyperlinks with the CKEditor to images that were added with the media browser.

<p><a data-entity-substitution="file" data-entity-type="file" data-entity-uuid="8f9fc629-ecc1-4344-9d2d-31d86056792a" href="#">#</a></p>

<drupal-entity data-embed-button="media_browser" data-entity-embed-display="view_mode:media.embedded" data-entity-type="media" data-entity-uuid="293c336b-5948-48c2-a8ea-6d1f93f338ec"></drupal-entity>

In above examples I am using the LinkIt Module