This is a regression. Tested in //UE5/Release-5.1 CL23901901
Additionally, I placed the cable actor in a sequencer then keyed several changes in position. The Cable actor had the same behavior of resetting the end point to the initial end position in local space.
The cable should continue to simulate physics.
The end of the cable resets its position to the initial end position in local space each time it moves despite Attach End being disabled.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-182294 in the post.