Mobile Joysticks snap to edge upon any input

When dragging the mobile joysticks in any direction, the snap to the edges regardless of how much the user inputs in said direction. This occurs with both the left and right joystick. This also occurs on mobile. I've uploaded a video of the behavior here: 

Tested in //UE4/Release-4.26 @ CL 15973114 and the joysticks move smoothly based on player input, so marking as a Regression.

1. Create a new Third Person template project
2. Select Edit > Project Settings
3. Navigate to the Input section
4. Enable the "Always Show Touch Interface" setting
5. Enable "Use mouse for touch events"
6. Press play
7. Use your mouse to drag the mobile joysticks around

RESULT:

The joysticks snap to the edge upon moving them in any direction

EXPECTED:

The joysticks would gradually move towards an edge depending on player input