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Changing r.MipMapLODBias does nothing when texture samplers are set to Shared:Wrap

Changing r.MipMapLODBias does nothing when texture samplers are set to Shared:Wrap. Is this supposed to happen? Are there any alternatives for forcing a global mipmap bias?

Having the same problem.
Something is broken and not gonna be fixed soon. Unreal Engine Issues and Bug Tracker (UE-48341)

Any alternatives?