UMaterialBillboardComponent does not render when moving

Marking this as a Regression since it works as intended in Release 4.27.2 (CL-18319896). I've also confirmed the behavior is occurring in UE5 Main (CL-20283975) as well. 

1. Open the UE5 Editor and create a Blank Project
2. Create a new Level using the Basic template
3. Add an Empty Actor to the scene and then add a MaterialBillboardComponent to it
4.  Assign any material to the MaterialBillboardComponent.
5. Open an empty map in Unreal Engine 5.0.
6. Untick Grid Snapping in the Editor.
7. Move the actor by selecting and dragging it.

Result: The MaterialBillboardComponent does not render while moving.

Expected: The MaterialBillboardComponent should render even while moving. The regular UBillboardComponent renders correctly while moving