Slomo command has no effect when Run Dedicated Server is set

Using the slomo # command when Run Dedicated Server is set has no effect. Command still functions when this checkbox is set to false.

Regression:
No, same behavior occurs in 4.16.3

1. Open UE4 (Third Person Template project)
2. In Play dropdown menu, check the box for Run Dedicated Server
3. PIE
4. Open console and enter slomo .5

Result:
No difference in the speed of the gameplay

Expected:
Character movement and animations play at half the speed