Static mesh component reports relative transform as world transform when Physics is enabled

If a static mesh component has Simulate Physics enabled, GetRelativeTransform() returns the value of world transform.

1. Open UE4 Editor (any project)
2. Add code to project based on Actor (MyActor)
3. Add the following to MyActor.h

   	UPROPERTY(BlueprintReadWrite, EditAnywhere, Category = "mesh")
   		UStaticMeshComponent* comp;
   	
   	UPROPERTY(BlueprintReadWrite, EditAnywhere, Category = "mesh")
   		USceneComponent* Scene;
   

4. Add the following to MyActor.cpp
   • At the top of the file with other include statements

     #include "Engine.h"
     

   • Inside MyActor::MyActor()

     	comp = CreateDefaultSubobject<UStaticMeshComponent>(TEXT("Comp"));
     	Scene = CreateDefaultSubobject<USceneComponent>(TEXT("Scene"));
     
     	RootComponent = Scene;
     

   • Inside BeginPlay()

     	UE_LOG(LogTemp, Warning, TEXT("world transform=%s"), *comp->GetComponentTransform().ToString());
     	UE_LOG(LogTemp, Warning, TEXT("relative transform=%s"), *comp->GetRelativeTransform().ToString());
     
     	if (GEngine)
     	{
     		GEngine->AddOnScreenDebugMessage(-1, 4.f, FColor::Magenta, *comp->GetComponentTransform().ToString());
     		GEngine->AddOnScreenDebugMessage(-1, 4.f, FColor::Cyan, *comp->GetRelativeTransform().ToString());
     	}
     

5. Compile
6. In editor, create a Blueprint based on MyActor (MyActorBP)
7. Set comp to cube mesh and position at relative location of (0,0,100)
8. Add instance of blueprint to the level
9. PIE (1)
10. Exit PIE and set Simulate Physics for the mesh to true
11. PIE (2)

Result:
PIE(1) reports relative transform in game and logs as expected. PIE(2) reports relative transform as the exact same as World transform

Expected:
Simulate Physics does not affect relative transform

Repro Rate:
3/3