Meta Specifier BlueprintBaseOnly does not seem to work as intended

Based on this case here:
https://udn.unrealengine.com/s/case/500QP000006rnSEYAY/tsubclassof-with-metablueprintbaseonly-doesnt-appear-to-work

From my testing the user seems to be correct. Applying the meta specifier BlueprintBaseOnly seems to have no effect when used on a TSubclassOf<> property. I have also tested TSoftClassPtr<> properties and have found the same result.

create a c++ class with a TSubclassOf<> or TSoftClass<> uproperty. Add the BlueprintBaseOnly meta specifier to the property.

In Editor create a BP subclass of the class with the property.

Try to change the property, look for c++ classes. If you set the Pointer to the original class it should be quite clear that the c++ class is selectable.