Max Draw Distances different in PIE versus Standalone

The Max Draw Distance setting culling meshes at incorrect distances during PIE relative to Standalone/New Editor Window.

I was unable to reproduce this in a new blank project using a single cube mesh, but the project provided by the user has a few merged meshes and are a bit larger than the standalone cube which reproduces the issue.

Regression?
Yes, this issue does not occur in 4.14.3-3249277 binary release.

1. Open attached project (4.14.3).
2. PIE and Play in Standalone
3. Observe how the meshes cull at their respective distances.
4. Open a copy of project.
5. PIE and Play in Standalone.

Outcome Meshes cull at much closer distances in PIE than in Standalone.

Expected PIE and Standalone have identical cull distances.

Max Draw Distance behavior changed in 4.15