Local variable default values reset in function library

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This doesn’t happen to float or any other type that isn’t an ObjectReference type (eg material, skeletal mesh, etc). To repro this in a new project:

1. Create a material
2. Create a function library
3. Add a function to the library
4. Add a local variable to the function in the library
5. Change the type of the local variable to a material
6. Select the material you created in step 1 as the variable’s default value
7. Compile

Some screenshots from before and after I compiled the function: