Steam Sessions fails to create when using the Create Session node

This is a Regression.
4.26.2 - Binary - no issue creating a session.
4.27.1 - Binary - no issue creating a session if you convert a previously working 4.26.2 project.
4.27.1 - Binary - Fails to create session with LogOnlineSession: Warning: STEAM: Failed to initialize game server with Steam!
//UE4/Release-4.27 CL18325204 - p4v - Fails to create session with LogOnlineSession: Warning: STEAM: Failed to initialize game server with Steam!

Steam sessions are failing to create when using the Create Session Node.

1. Create a Blank project
2. Create, save, and set a Map as the Editor Startup Map and Game Default Map in the Project Settings under Maps & Modes
3. Enable the Online Subsystem Steam plugin then restart the editor
4. Open the DefaultEngine.ini file from the projects Config Folder
5. Add these lines in the DefaultEngine.ini at the bottom:

   +NetDriverDefinitions=(DefName="GameNetDriver",DriverClassName="OnlineSubsystemSteam.SteamNetDriver",DriverClassNameFallback="OnlineSubsystemUtils.IpNetDriver")
   
   [OnlineSubsystem]
   DefaultPlatformService=Steam
   bHasVoiceEnabled=false
   
   [OnlineSubsystemSteam]
   bEnabled=true
   SteamDevAppId=480
   
   [/Script/OnlineSubsystemSteam.SteamNetDriver]
   NetConnectionClassName="OnlineSubsystemSteam.SteamNetConnection"
   

6. Save then close the DefaultEngine.ini
7. Back in the editor open the level blueprint
8. Create an Event Begin Play node
9. Drag off the node then add a Delay node for 3 seconds
   • This is to let the player state start
10. Drag off the delay node then add a Create Session Node
11. Right click then get a Get Player Controller node
12. Connect the Get Player Controller node to the Player Controller input pin on the Create Session Node
13. Drag off the On Success execution pin from the Create Session node then create a Print String node
14. Change the In String to say "Session Created"
15. Drag off the On Failure execution pin from the Create Session node then create a Print String node
16. Change the In String to say "Session Failed to Create"
17. Compile then save
18. Close the Editor
19. In the file explorer right click the projects .uproject file then select Launch Game

Expected Results:
Game launches and after a few seconds displays "Session Created"

Actual Results:
"Session Failed to Create" displays with

LogOnlineSession: Warning: STEAM: Failed to initialize game server with Steam!

in the logs.