The answer was really simple,but I couldn’t find it anywhere online. In fact, I am not entirely sure why it caused the problems that it did.
The solution is to make sure that you are not replicating the movement component in the character and replicating movement in the character itself. For some reason doing this slows down the client’s velocity. Instead you should disable replicate movement in the character and only replicate the movement component. Now all characters clients and server are moving at the proper speeds.
However, now none of my movement is replicating to anyone.
At least, now I have determined that the slowing down of the client is due to replication of movement from the actor. Unfortunately, I need to replicate the movement of the actor. How can I work around this?