The licensee reports that this issue is caused by the following code not performing a Buffer update.
Therefore, the following fixes may solve the problem.
1. Use DistanceCullFade node as the material.
2. Set the Material and Desired Max Draw Distance for each mesh.
3. When played, it works on Static Mesh, but not on Skeletal Mesh.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-149933 in the post.