"Get overlapping components" does not work with the "Use complex as simple" collision option

I am seeing this bug-like behavior continue in UE 5.4.1

Overlap is fine with Simple but does not work with “Use Complex Collision as Simple”.

I tried changing many blueprint settings to induce better behavior, such as trying CCD, MACD, ‘Always Create Physics State’, ‘Trace Complex on Move’ and settings elsewhere as well.

Conversely, a Simple collision always works. I tried varying types of simple primitives including importing a complicated collision mesh in an FBX… any type of Simple is fine.

If it’s not a bug… it’s very confusing behavior.