World Displacement is behaving incorrectly on Landscapes

When applying a Landscape Layer Coordinate to a Base Texture and a Displacement Map Texture, the two textures do not line up correctly on a tessellated landscape.

When reproducing this I noticed in 4.9 (Main CL-2554325) the Landscape did not look to be displacing at all (though its outline when selected did)

Landscape selected, underneath: (Displacement appears correct)
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Landscape selected,on Edge: (Displacement appears incorrect)
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1. Open QAGame Editor
2. Create a New Crack-Free PN Triangles Tessellated Material
3. Assign the attached TestGrid_D.tga to the Base Color
4. Assign the attached TestGrid_Disp.tga to a World Displacement Setup (Multiply by 100 Multiply by VertexNormalWS)
5. Assign a Landscape Layer Coordinate with a Mapping Scale of 12 to both Textures' UV slots.
6. In the Viewport, Create a New Landscape with Default Settings
7. Assign the Made Material to the New Landscape

RESULTS: The Displacement is not properly applied to the landscape

EXPECTED: The Landscape should displace correctly.