Moving a water body causes engine to drop fps and spike ms

Moving a water body lowers performance on the engine. The fps drop from 120 to 30 and ms spike from 8 to 30. This issue occurs in 5.0 Binary and 4.27 Binary on Windows. On Mac, FPS drop and ms spike when dropping the water body but not while moving it.

[Link Removed] <- Utrace file for insight capture

1. Create a new project and open a blank map
2. Press Shift + 2 to open Landscape Mode, set a material, enable edit layers
3. Turn water plugin ON, save and restart engine
4. Drop any water body object
5. On the top left corner of the viewport, turn Show FPS ON (Or click Ctrl + Shift + H)
6. Move the water body around without dropping

Actual Result: FPS drop from 120 to 30 and ms spike from 8 to 30
Expected Result: FPS and ms either do not change when moved by not rendering water until object is "dropped"