Dynamically binding 'OnComponent' functions in code doesn't trigger bound functions

Binding a function in code to OnComponentBeginOverlap, OnComponentEndOverlap, or OnComponentHit does not trigger the bound function from code.

1. Open UE4 Editor (any project)
2. Add new code class based on actor (MyActor)
3. In MyActor.h add the following:

   	UPROPERTY(EditAnywhere, BlueprintReadWrite, Category = Test)
   		USphereComponent* SphereComp;
   
   	UFUNCTION(BlueprintCallable, Category = Test)
   	void SphereFunc(class AActor* OtherActor, class UPrimitiveComponent* OtherComp, int32 OtherBodyIndex, bool bFromSweep, const FHitResult& SweepResult);
   

4. Add the following to MyActor.cpp
   • Add include statement

     #include "Engine.h"
     

   • Add to Constructor

     SphereComp = CreateDefaultSubobject<USphereComponent>(TEXT("SphereComp"));
     SphereComp->OnComponentBeginOverlap.AddDynamic(this, &AMyActor::SphereFunc);
     

   • Add new function below tick function

     void AMyActor::SphereFunc(class AActor* OtherActor, class UPrimitiveComponent* OtherComp, int32 OtherBodyIndex, bool bFromSweep, const FHitResult& SweepResult)
     {
     	if (GEngine)
     	{
     		GEngine->AddOnScreenDebugMessage(-1, 4.f, FColor::Red, TEXT("Overlap"));
     	}
     }
     

5. Compile
6. In the editor, create a blueprint of MyActor (MyActorBP)
7. Add instance of MyActorBP to the level (set hidden in game to false)
8. PIE and walk into the sphere

Result:
Bound SphereFunc doesn't print Overlap message

Expected:
When OnComponentOverlap triggers, function bound in code triggers as well.

Repro Rate:
3/3