Custom depth does not render on static meshes converted to blueprint without render custom depth option enabled

Custom depth does not render on static meshes converted to blueprint without render custom depth option enabled. This issue does not affect objects that are added as a component to a blueprint. To work around this issue you need to select the custom depth option in the mesh settings. This issue is a regression from 4.16

Versions Tested:
4.16.3 - CL: 3561208 - Issue does not occur
4.17.1 - CL: 3586342 - Issue occurs
4.18 - CL: 3641171 - Issue occurs

1. Create a new project (no template or starter content needed)
2. In the new level and add a basic shape cube to the level and convert it to a blueprint
3. In the blueprint navigate to the event graph and add a reference to the static mesh
4. Off of the Event Begin Play > Get the "Set Render Custom Depth" node and connect the static mesh reference to it
5. Get the "Set Custom Depth Stencil Value" and connect it to the Static mesh reference and set the value to 1
6. Create a new material > Name It "PostPro_MAT" and open it
7. Set the material domain to Post Process > Add a scene texture node and set the id to "Custom Stencil"
8. Under the color option add a component mask and check only the R channel and connect it to the emissive color
9. Create a post process volume in the level and add PostPos_MAT as the material
10. Add a wall between the player and the Actor Blueprint
11. PIE and enter the Post Process volume
    Result: The mesh will not render correctly but will show up and then disappear
    Expected Result: Object renders and stay