Creating a GeometryCollectionActor from a GeometryCollectionAsset is ignoring some of the data set in the asset

When you create a GeometryCollectionActor by dragging a GeometryCollectionAsset from the ContentBrowser into the scene, instead of using the PhysicsMaterial defined in the GeometryCollectionAsset, it resets to the Project default value.
Other data is ignored when spawning a GeometryCollectionActor from a GC asset: I've noticed the same behavior with DamageThreshold.

In an empty project, create a scene, and a cube in that scene
Select the cube and go to Fracture mode (CTRL+6)
Create a new GeometryCollection (GC) based on the cube - save it
Back to selection mode
In the ContentBrowser, double click the created GC asset and edit it
Set the PhysicsMaterial to any material (can create a new one if needed)
Save the asset
Drag and drop this GC into the scene
Verify the Physics material on the instantiated GeometryCollectionActor

Expected result: should display the same material as set in the GC asset
Actual result: displays the default material as set in the ProjectSettings>Engine>GeneralSettings>DefaultMaterials>DestructiblePhysicsMaterial