Editor crashes on Mac when launching with the command -MacExplicitRenderer=0

Trying to launch the editor with the command -MacExplicitRenderer=0 causes a crash. At the time of the crash, the following line appears in the log:

LogMac:Error: appError called: Assertion failed: Assertion failed: GMaxRHIFeatureLevel == ERHIFeatureLevel::SM5 [File:Runtime/RHI/Public/RHIUtilities.h] [Line: 39] 

I was also able to reproduce this crash with a project packaged for Development, but not for a project packaged for the Test configuration. This issue did not occur in 4.14.3.

1. Enter the following command into terminal:

   open UE4Editor.app --args -MacExplicitRenderer=0

Results: Editor crashes

[2017.01.19-16.48.57:765][ 0]LogMac: FGenericPlatformMisc::RaiseException(unsigned int) Address = 0x55dd71b (filename not found) [in UE4Editor-Core.dylib]
FOutputDeviceMacError::Serialize(wchar_t const*, ELogVerbosity::Type, FName const&) Address = 0x57a22e8 (filename not found) [in UE4Editor-Core.dylib]
FOutputDevice::Logf(wchar_t const*, ...) Address = 0x5884e97 (filename not found) [in UE4Editor-Core.dylib]
FDebug::AssertFailed(char const*, char const*, int, wchar_t const*, ...) Address = 0x57fd1a6 (filename not found) [in UE4Editor-Core.dylib]
FRWBuffer::Initialize(unsigned int, unsigned int, EPixelFormat, unsigned int) Address = 0x16a96137 (filename not found) [in UE4Editor-Renderer.dylib]
FMinimalDummyForwardLightingResources::InitRHI() Address = 0x170c19c0 (filename not found) [in UE4Editor-Renderer.dylib]
FMetalDynamicRHI::FMetalDynamicRHI(ERHIFeatureLevel::Type) Address = 0x3dfdb085 (filename not found) [in UE4Editor-MetalRHI.dylib]
FMetalDynamicRHIModule::CreateRHI(ERHIFeatureLevel::Type) Address = 0x3dfd81b4 (filename not found) [in UE4Editor-MetalRHI.dylib]
PlatformCreateDynamicRHI() Address = 0xb43ce41 (filename not found) [in UE4Editor-RHI.dylib]
RHIInit(bool) Address = 0xb43e335 (filename not found) [in UE4Editor-RHI.dylib]
FEngineLoop::PreInit(wchar_t const*) Address = 0x4e90bc5 (filename not found) [in UE4Editor]
GuardedMain(wchar_t const*) Address = 0x4ea48d1 (filename not found) [in UE4Editor]
-[UE4AppDelegate runGameThread:] Address = 0x4eb253c (filename not found) [in UE4Editor]
-[FCocoaGameThread main] Address = 0x572e376 (filename not found) [in UE4Editor-Core.dylib]
_NSThreadstart_() Address = 0xbef37c6d (filename not found) [in Foundation]
_pthread_body() Address = 0xf473aab (filename not found) [in libsystem_pthread.dylib]
_pthread_body() Address = 0xf4739f7 (filename not found) [in libsystem_pthread.dylib]
thread_start() Address = 0xf4731fd (filename not found) [in libsystem_pthread.dylib]