The funny thing is, If I toggle on the collision presentation of viewport, static mesh shows the purple colored collision lines, but destructible mesh does not show any collision shapes.
I think, destructible meshes have their own unique collision system…
The unfractured base mesh will only use a single convex hull for its collision. So meshes with holes in them will not have correct collision for these areas. You would want to swap out the mesh and the destructible on impact or within the range of the player to simulate this. Alternatively, you could author your content around these types of issues as well and use some of the flag in the DM editor to allow chunks sections to hold together.