I have solved this issue but I still will post it as a question for others to find a potential solution. I’ll post what I did to solve this problem in a comment so that I can mark it as a solution and so that others can easily see the solution.
What’s wrong
On Perception Updated (AIPerception) does not get called when I move my player in front of the character with the AI Perception component
What I did
On an AI Controller Blueprint, I added an AI Perception component. I added an AI Sight Config and left the default values in for that sight config.
In my player character blueprint, I added an AIPerceptionStimuliSource component and on that component, enabled Auto Register as source. Then added AISense_Sight to the register as source as senses array.
Back in my AI controller with the AI Perception component, I added the On Perception Updated (AIPerception) to my event graph and attached a print string.
I then pressed play and walked in front of the character with the AI Controller with the Ai Perception component and nothing got logged!