When going through the engine content you are unable to select SimplePivotPainterExampleMat Instance's parameter settings if Param button is disabled. If the button is enabled the settings appeared to work as expected. This issue is a regression.
Versions tested:
4.15.3 - CL: 3450819 - Issue does not occur
4.16.3 - CL: 3561208 - Issue occurs
4.17.1 - CL: 3586342 - Issue Occurs
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-49096 in the post.