Potential issue with components being created inside of components, with the outer component added to a BP

If a static mesh component is added to a scene component class and the scene component is added to an actor - the static mesh that is assigned in the blueprint will not show up in the blueprint editor or the main editor viewport.

1. Open UE4 Editor (any project)
2. Add 2 classes to project based on SceneComponent (MyScene) and Actor (MyActor)
3. Add the following code to MyScene.h:

   	UPROPERTY(EditAnywhere, BlueprintReadWrite, Category = Test)
   	class USpringArmComponent* IndicatorArm;
   	UPROPERTY(EditAnywhere, BlueprintReadWrite, Category = Test)
   	class UStaticMeshComponent* IndicatorMesh;
   

4. Add the following code to MyScene.cpp:

   IndicatorArm = CreateDefaultSubobject<USpringArmComponent>(TEXT("IndicatorArm"));
   	IndicatorArm->AttachTo(this);
   	IndicatorArm->TargetArmLength = 150.0f;
   	IndicatorArm->bUsePawnControlRotation = false;
   	IndicatorArm->SetHiddenInGame(false);
   
   	IndicatorMesh = CreateDefaultSubobject<UStaticMeshComponent>(TEXT("IndicatorMesh"));
   	IndicatorMesh->AttachTo(IndicatorArm);
   	IndicatorMesh->bOnlyOwnerSee = true;
   	IndicatorMesh->SetSimulatePhysics(false);
   	IndicatorMesh->SetCastShadow(false);
   

5. In MyActor.h add an include statement for MyScene and the following code:

   UPROPERTY(EditDefaultsOnly, BlueprintReadOnly, Category = BallIndicator)
   	class UMyScene* BallIndicatorComp;
   

6. Add the following code to MyActor.cpp:

   BallIndicatorComp = CreateDefaultSubobject<UMyScene>(TEXT("BallIndicatorComp"));
   	BallIndicatorComp->AttachTo(RootComponent);
   

7. Compile the code
8. In the editor, create a blueprint based on MyActor
9. Select BallIndicatorComp in the component list and extend the Ball Indicator Comp in Details panel
10. Extend BallIndicator -> Indicator Mesh -> Static Mesh
11. Set the static mesh to available mesh

Result:
No mesh appears in the viewport

Expected:
Mesh appears in blueprint/editor viewport after being set

UStaticMeshComponent Parented to Component in C++ Doesn't Render in Editor or Play Mode