Turns out my test was flawed, static mesh I grabbed had no collision at all. I’ve checked in a fix for not being able to edit bSimulatePhysics on components in Blueprints in commit /EpicGames/UnrealEngine/commit/683a74d34e8d9c8dac826aff94f1b585152ff096 which will be part of 4.4.
Another cool feature that went into main recently is LockedAxis property under Physics category. You can set to Y on sprites with 3D collision that you want to have simulation on, in order to prevent them from rotating out of plane.