Currently facing the same issue on 4.27.2.
I’ve set up the Static Mesh, added minLOD versions based on platforms, and while rendering everything works well, however, it still cooks all LODs and adds them to the paks and after checking memreport I saw that the unused textures are streamed as well.
Is there some setting that I’m missing? “Stripped” LOD still in memory - Development / Asset Creation - Epic Developer Community Forums (unrealengine.com)