Cannot change collision presets for static mesh instances in the level

The presets for collision in a static mesh component cannot be changed on an instance by instance basis in the level. The settings are grayed out and unavailable to the user.

1. Open the editor
2. Create a new blueprint
3. Add a static mesh component
4. Set the static mesh to "Cube" (this issue does not occur unless the static mesh component has been give a static mesh)
5. Save and compile
6. Add static mesh to the level
7. Select the actor
8. Select the static mesh component in the actor
9. Scroll down to the collision settings in the details panel

Result: The collision presets are grayed out and cannot be changed on an instance by instance basis
Expected: The collision presets would be available to modify on an instance by instance basis