Manually placed Atmospheric Fog gives distorted colors - pink and blue

Development Rendering
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Steps to reproduce:

  1. Create New Default level (with skylight)
  2. Select Atmospheric Fog
  3. Change both Fog Multiplier and Start Distance to 100 to make fog clearly visible
  4. Select Directional Light (“Atmosphere / Fog Sun Light” option already turned on for New Default level)
  5. Rotate it (changing Pitch) up to 180% and back and observe the color
  6. Delete Atmospheric Fog
  7. Place new Atmospheric Fog manually, from Modes>Visual Effects
  8. Change both Fog Multiplier and Start Distance to 100 to make fog clearly visible
  9. Rotate Directional Light (changing Pitch) up to 180% and back and observe the color

Expected results:

For both cases - fog shoud behave the same way - it should be white (default) color

Actual results:

Default Atmospheric fog works normally (white by default), but manually placed Atmospheric fog gives distorted colors - pink and blue, depending on Pitch degree of Directional Light

Additional information:
Windows 10 x64, Unreal Engine 4.16.1, Ge Force GTX 950

Also reproducible in UE 4.17 Preview

Building light after steps 6 and 8 doesn’t help

Copying working Light and Fog from Default Level - doesn’t help (it becames distorted too), even when copied to New Empty Level

Same behaviour without Sky Sphere

[Video reproduction (youtube)][1]

192190-atm-fog.gif