Nanite mesh polygons disappearing when using masked opacity with vertex color in 5.4

In 5.4.3, a nanite enabled mesh with a material that takes its vertex color (R) and uses it as the opacity mask output in a masked blend mode material, causes the mesh to have disappearing polygons when the camera is moved away.
Did not occur for user in 5.3.

1. Import the example mesh from the user case.
2. Create a material, set its blend mode as Masked.
3. Add a Vertex Color node and connect its R output to the Opacity Mask input of the output node.
4. Apply the material to the mesh.
5. Note that the mesh looks normal with nanite disabled.
6. Enable nanite on the mesh then zoom out, note that the mesh has missing polygons.