Billboard Component Flickers Between Textures When Using Set Sprite Node

When using a Set Sprite node with a billboard component, the texture assigned will flicker between the two possible textures.

Working as expected in 4.20 CL# 4369336

Found in 4.21 CL# 4541578, 4.22 CL# 4547706

This is a regression.

1. Open attached project
2. Load the level named "TestLevel" 
3. Play in Editor

Results:
The billboard component's sprite will flicker between the two possible textures in the select node, even though it is set to be one particular texture.

Expected:
The billboard component would use the correct texture and not flicker between other textures.