Sound Attenuation settings do not function when Allow Spatialization is False

Override Sound Attenuation setting does not work, Sound will play at max volume regardless of distance between source and observer.

1. Create a New Project (Any template)
2. Add a Sound Wave to the world
3. Uncheck Allow Spatialization 
4. Check Override Attenuation 
5. launch PIE

Expected:
Sound Wave plays in both speakers with volume attenuating with distance, and has no spatialized source.

Result:
Sound Wave plays constantly in both speakers at max volume regardless of where the player is in the world.