Collision does not work on Static Mesh created from BSP

After applying a Linear Stair brush to the editor and creating a Static Mesh from that brush, then setting its Collision Preset to BlockAll, the third person character is not able to walk up the stair and walks through it instead. The collision on the stair does not work.

• Create a new Third Person Project > Go to Geometry under Modes section
• Select/drag Linear Stair brush into the editor
• Under Details panel, Brush Settings, click expand arrow > Click "Create Static Mesh"
• Save it under Geometry Meshes > Back to Details panel > Collision > Set Collision preset to BlockAll > Save
• Play in editor and attempt to walk up the stairs

Results: The character walks right through the stairs 

Expected Results: For the character to be able to walk up the stairs with Collision Preset set to BloackAll.

Work Around:
After converting the BSP to a static mesh open the resulting asset, Under Collision, Collision Complexity Set it to Use Complex as simple.