Datasmith Max import- Datasmith reimport Material option missing after reopening UE4

1. Unzip the attached folder containing Dtasmith file, assets, and Steps.mp4
2. Click Import Datasmith to load Material_Info.udatasmith
3. In the Content Browser > Material, right-click on the material
4. Verify that you have the Datasmith option
5. In the Content Browser, Click Save all
6. Close and reopen the Editor
7. In the Content Browser > Material, right-click on the material

Expected Result :
You can find the Datasmith option while right-clicking on the material after reopening the Editor

Actual Result :

After reopening the Unreal editor, Datasmith Material option is not found unless you reimport the Datasmith scene from the Content Browser (Watch the attached video capture: Steps.mp4)