Command not recognized: r.PSOPrecache.Validation

I actually did a bit more digging and from this link it shows you how to use PSOPrecaching tools. You cannot use them in the editor, they need to be used in a packaged build it seems:

Setting up PSO Precaching & Bundled PSOs for Unreal Engine - Tom Looman

Tested this out and I got the stats on my developer packaged project