Static mesh with simulate physics does not update for clients joining after a session has started

Static mesh with simulate physics does not update for clients joining after a session has started

1. Open the editor
2. Create a new project
3. Add a static mesh actor in a scene, floating above the floor (so that at the start it will fall to the floor)
4. Set the static mesh actor to replicate and simulate physics.
5. Place it behind the playerstart so it'll be outside the view frustum of a spawning player.
6. Play in editor with 2 players
7. In the client instance, open the console and type "open 127.0.0.1"
8. Turn around to look at the static mesh actor
9. Notice that it is still floating in the air (even though it is on the ground on the server)

Expected: The position of the static mesh actor would be updated for any clients joining a game in progress
Result: The Client that joins in later does not get the updated position of the static mesh actor