Well first off…if you wanted overlap events to works, you need Overlap collision and Generate Overlap Events checked. My collisions work just fine in 4.11 and have been since 4.6. I do not need to turn on Physics.
If you are wanting Hit Events to work with Blocking Collisions you need to enable Simulation Generates Hit Events, which you have, and then use the Event Hit node.
http://puu.sh/oBPJ8/4fc41baf45.png
For more information on how collisions work in UE4, read this blog [Collision Filtering Blog][2] and then this doc [Collision Overview Doc][3]
Hopefully, between those two, you’ll be able to handle collision much better. Good luck!