1) Create a new level, save it in it's own subdirectory
2) In the World Settings, check "Enable World Composition" and "Enable World Origin Rebasing"
2) Scale the floor to 2000.0, 2000.0, 1.0
3) Move the player start location far away (X=600000)
4) Place a cube in front the of player start position
5) Play in PIE
Result: The cube won't show up but you'll be able to collide with it.
If you change the view mode to "Visibility collision" & back to "Lit", you'll see the cube properly
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-87512 in the post.