Near Clip Plane project setting has no effect

1. Create a new blank project
2. In Project Settings, set near clip plane to 1000 (using high values to make it easier to reproduce, but low values have the same effect)
3. PIE, and fly the camera towards the landscape

Results: The landscape doesn't clip at 1000 UU{}

Expected: The landscape will clip at 1000 UU

The CVAR r.SetNearClipPlane works as intended at runtime