Projectile with skeletal mesh/physics not working

I have a blueprint that contains a projectile movement component and a skeletal mesh with Simulate Physics enabled (for ragdoll type physics)

When I fire the projectile, it just drops to the ground.

I tried adding a box component and making the skeletal mesh a child of that, but it still just falls.

ProjectileMovement is setup with Velocity as 1,0,0 and Speed is set to 500. Rest of the values are default.

The Skeletal Mesh has Simulate Physics, Enable Gravity set. Collision is set to Query and Physics, ObjectType is Physics Body. World Static, World Dynamic, Physics Body, Destructible are set to Block, rest are set to Ignore.

…and that is exactly what it is supposed to do. What was actually the question - or rather what do you wanna do?

Maybe you should watch this short tutorial which explains ProjectileMovement pretty well:

I want it to fly forward like a projectile and deform on impact. Not just drop to the ground.

I got it to move forward now by setting gravity to 0 in the projectile movement and by making the speed 2500 instead of 500. But it seems to lose velocity too quickly. Is there some sort of drag setting that causes that. I’m guessing this is why the projectile just dropped when its speed was 500, it was losing forward velocity very quickly.