LogStaticMesh:Warning: staticmesh build was call too often when reverting default material in SME

When reverting to default material in the static mesh editor causes this static mesh warning:

LogStaticMesh:Warning: Main thread blocked for 0.414s for async distance field build of Cube to complete!  This can happen if the mesh is rebuilt excessively.

Note
I noticed that when a cube is brought in, the material listed in the SME is WorldGridMaterial. Other shapes like Sphere and Cylinder have DefaultMaterial listed

This is a Regression

1. Open QAGame
2. Drag a cube into the level
3. Open the cube in the Static Mesh Editor
   • Right click the cube and select Edit Cube
4. Under Materials, select the yellow arrow next to the drop down

Result: Warning appears in log stating that the mesh was rebuilt excessively

Expected Result: No warnings.