UMaterialBillboardComponent Memory Leak and Hitching (Unreal 4.19.2 + 4.19.1)

Creating an actor with a UMaterialBillboardComponent causes Editor hitching.

Attached project showcasing the issue as well as a video.

1. Create a C++ project
2. Create an actor 
3. have the actor create a UMaterialBillboardComponent with a simple translucent material
4. Place some of these actors into a level 
5. Hit PIE and run the stat UnitGraph command from the console

Result: Constant hitching of the Editor.

Expected: Editor runs as normal.

Gradually increasing hitching caused by massive page faults?