If Visible is off in actor details by default, Visibility track in Sequencer doesn't work in game

If Visible is off in actor details by default, Visibility track in Sequencer doesn't work in game. It appears to work when you hit play in the Sequencer Editor, but doesn't work in game.

See attached project and PIE or:

1. Create a sequence (with auto-play enabled) and add a static mesh to the level
2. Add the static mesh actor to the sequence
3. Add a "Hidden in Game" track
4. Key Visibility off at 0 frames
5. Move to 50 frames and key it on
6. Close sequencer and select the static mesh actor
7. Uncheck "Visible" in the details panel
8. PIE

Result: Static mesh does not appear
Expected: Static mesh appears part way through the sequence playing