Setting Game Instance Class using Selected Asset from Content Browser does not work

Trying to set the Game Instance Class using the select asset from content browser setting results in the field being set to none.

1. Create a new blueprint of type GameInstance and save it and make sure it is selected.
2. Open Project Settings > Maps & Modes.
3. Click the arrow next to Game Instance Class "Use Selected Asset from Content Browser"

Results: The class gets set to none

Expected: The class will be set to the highlighted Gameinstance