Child actor component class does not update on the client if a class is assigned by default

Child Actor Components class settings does not appear to replicate as expected. When the class is changed at run time, the change is not reflected on the client.

Additional note:

If the class is left as "none" the client updates as expected.

1. Download the attached project
2. Open project
3. Add the actor "Parent" to level
4. Play in editor (number of players 2)
5. Wait 5 seconds

Result: The cube in the level will change into a sphere on the server and it will remain a cube on the client (the child actor class has been changed)
Expected: The Client would update to show the changes to the child actor component's class setting