I have done some more tests, and the issue seems to be baking into a lighting scenario, without one it works just fine but as soon as I add one to the level and bake it will not apply properly.
Hope this info helps!
Great to see an update!
From initial tests, I am running into one specific issue where turning on the feature
’Use First Bounce Ray Guiding’ always results in the bake not saving / applied.
@yujiang.wang So, UE5.x is utter garbage when it comes to VR and standalone VR specifically. One very nice dev decided to save us all and made a fork of 4.27.2-plus that combines stability, performance and all features needed to be used for standalone VR projects: https://github.com/uno1982/UnrealEngine/tree/4.27-plus-meta
Unfortunately, CPULM in 4.27.x is much slower comparing to CPULM in 5.4+ and GPULM has a lot of limitations/issues. So baking lighting is problematic (from productivity perspective with CPULM and quality perspective with GPULM)
I am wondering if you could help improving GPULM in that branch and by doing so, save a lot of standalone VR Unreal devs by switching to Godot or Unity 
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