Broken references after renaming template default folders

When a template project's default folders are renamed (such as Geometry in the First Person Template), the original folder name is still shown in the content browser. Relaunching the project will show two folders; the old name which contains no files, and the new name where the files still exists. Fixup Redirectors option has no affect on the older folder name.

1. Open UE4 Editor (First Person Template)
2. In the content browser, click the button next to Filters to show the full folder view
3. Select the Geometry folder and press F2 to rename
4. Click Content folder at the top of the hierarchy

Results:
Geometry folder still shown with the new folder now added. Attempting to navigate into the Geometry folder does not do anything.

Expected:
Original Folder is renamed, leaving the same number of folders as before the rename process.