Toggling Material Layer visibility in Parent Material doesn't propagate to children

When Material layer visibility is toggled on the Parent Material in a Material hierarchy, only the Parent’s layer visibility is affected, the children are not. Saving the Parent material has no effect on the layer visibility in the children either.

1. Open the MAP_MatLayersDebug_A level in the attached project
2. Open the MI_LayeredMat_Parent Material
3. Toggle the Visibility Icon in the top Material Layer

[Image Removed]

Expected
Parent and child materials in Editor viewport update

Actual
Only the Parent material updates and reflects whether the visibility is hidden or not

Saving the Parent material has no effect on the layer visibility in the children either.