Painted Vertex Colors not Passing Color when used with Emissive for Static Lighting Setting

When painting Vertex Colors on a mesh, and enabling the 'Emissive for Static Lighting' option, the painted colors are not passed to surfaces receiving the emissive static lighting.

The regular emissive as static lighting works as expected with a simple emissive material.

I tested this in binary releases of 4.9.2, 4.10.4, 4.11.2, and 4.12 preview 5 and this behavior is the same across all versions.

1. Create new blank project.
2. Delete everything but the 'Floor' actor in default level.
3. Drag a Sphere into the scene
4. With the Sphere selected, enable the 'Emissive for Static Lighting' setting.
5. Create a new material instance using the parent material image as reference.
6. Apply material instance to Sphere.
7. Paint Vertices with a bright color.
8. Build All.

Expected The color painted on the vertices for the Sphere are passed to the floor or other objects placed in the scene.

Outcome The floor/objects are illuminated, but the vertex painted colors are not present on the surface of the objects.