Actors with Net Load On Client disabled still appear on Clients when Use Single Process is disabled

Actors with Net Load On Client disabled still appear on Clients when Use Single Process is disabled. Does NOT occur in packaged projects.

Test project included. Set Use Single Process to false in Editor Preferences and Set Multiplayer Mode to either Listen Server or Client, then PIE with 2 players to test.

Reproduced in 4.8.3 binary and Main 2635815

1. Open any project
2. Create a new Actor Blueprint
3. In Class Defaults, disable Net Load on Client
4. Add a Static Mesh component
5. Assign a visible Static Mesh
6. Place the Actor BP in the level
7. Editor Preferences > disable Use Single Process
8. Set Multiplayer Mode to Listen Server
9. PIE with Number of Players set to 2

Result:
The Actor Blueprint is loaded on both Server and Client.

Expected:
The Actor Blueprint is not loaded on the Client.