Audio: Max Concurrent Resolution not working as expected

I’m having problems with getting an audio cue’s “Max Concurrent Resolution” to work as expected.

We have a level with many electric lamps in it. Each lamp is a static mesh blueprint that has an audio component on it. The audio component is set to Auto Activate. This audio is a looping, faint buzzing sound, and is attenuated so you can’t hear it past 5 meters. The wav player in the cue is marked as looping. The Max Concurrent Play count is 5, and the Max Concurrent Resolution is “Stop Farthest Then Oldest”.

My expectation is that as I move past the lamps, I’d hear the 5 closest to me. Instead, 5 of the lamps make audio and none of the rest ever do so. If I leave the area and return, the same 5 lamps generate the audio. It seems like the “Max Concurrent Resolution” is acting like “Prevent New” rather than “Stop Farthest Then Oldest”. Changing the max concurrent play count to N means that I can hear the N closest lamps where I start, but none after that.

Any ideas?