The distance field materials do not work on a High Poly mesh.
Found in 4.19 CL# 4033788, 4.20 CL# 4369336, 4.21 CL# 4753647, 4.22 CL# 6063286, 4.23 CL# 6398642
The high-poly mesh will be all white and unaffected by the meshes placed on it while the default plane is what is expected
Both would look the same
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-74587 in the post.