The next option is unchecking the “Combine Meshes” will give you two separate objects (number of objects based on number of individual objects in your FBX file.
This give me the two boxes. One box has it’s pivot point at the 0,0 world origin point. The second has it’s pivot there as well but the box is still off to the side. That’s because UE4 recognizes where the box was located in the FBX according to the 0,0 world origin, not its pivot point. It is for this reason that it is recommended for you to place objects at the world origin when exporting.
This is the individual mesh with it’s pivot at the 0,0 world origin.
This is other mesh that was offset from the world origin. You can see that the pivot is set to the 0,0 world origin despite it’s pivot being different in my modeling software.
This is expected behavior.
While these objects can be imported and not combined the pivot will always be 0,0 world origin for the modeling software and not relative to the object. The models placement will always been relative to this.
You can however in perspective viewport use the middle mouse button to temporarily move the pivot by grabbing the white orb at the connection of the XYZ on the placement tool. You can move this to better orient the model but when you click away it will go back to its original position.
If you have any questions feel free to ask.