Collison -> Collision Presets -> Object Type does not immediately update when toggling simulate physics.
Tested in Main CL 4374913
Result: Mesh Object Type now refreshes to show 'PhysicsBody' (Similar behaviour when toggling SimulatePhysics off / Transition to WorldDynamic)
Expected: Object type is refreshed while toggling SimulatePhysics (Similar to how Collision Presets toggles between BlockAllDynamic and PhysicsActor)
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-64380 in the post.