Auto Align Floor to Mesh causes floor to align well below the mesh

NOTE: This is likely a known issue, but I could not find an existing bug for tracking

Auto Align Floor to Mesh causes floor to align well below the mesh. Causes the mesh to float

I've tried with multiple meshes and it appears that it depends on the height of the mesh. With a small mesh, the offset is about 4 units, but with a taller mesh like the Mannequin, it's floating more like 10 units. I also have a mesh with no height at all (just a flat plane skinned to bones) and there is no offset.

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1. Create a Project from the Third Person template
2. Open SK_Mannequin
3. Note that it is hovering above the floor
4. Go to Show>Scene Setup
5. Uncheck Auto Align Floor to Mesh
6. Re-Check it

Result: Floor always seems to align well below the mesh

7. Import the attached FBX and assign to the UE4_Mannequin_Skeleton (note: this mesh is just a flat plain aligned with the ground)
8. Open the Single Poly skeletal mesh
9. Ensure Auto Align Floor to Mesh is enabled

Result: Floor appears to be aligned correctly