Set Material for Particle System via Construction Script in Blueprints is Different is PIE versus Standalone

Differences in PIE and Standalone when attempting to set the Material for a Particle system within the construction script of an actor blueprint.

I know there are probably some differences in how PIE and Standalone handle the loading and processing of blueprints and other various caveats, but I the other parameters set via the construction script are set correctly.

1. Open attached project.
2. Notice the particle system's color and material set by Construction Script.
3. Press Play in Standalone.
4. Exit.
5. Press PIE.

Outcome The particle system's material is never set by the construction script or is ignored when running under PIE mode.

Expected Properties for particle systems set via construction script should remain consistent through In Editor, PIE, and Standalone.