sg.ResolutionQuality command doesn't work

Using the sg.ResolutionQuality command in code or the console has no effect in 4.6.1 or 4.7.

1. Open UE4Editor in 4.6 or later (any project)
2. Click PIE button
3. Press console key to open console
4. Enter "sg.ResolutionQuality 10" and press enter

Result:
No effect

Expected:
In 4.5.1 and earlier, using this command would cause the screen to take on a "blurry" effect