Well you still haven’t explained your collision issue.
Does your rocket successfully hit something closer than 50 feet, or only hits at 50feet and greater?
Out of curiosity I loaded up a blank project with the First Person template. The one that comes in the editor.
All I did was change the projectile speeds to 30000 and it hits everything just perfect. In fact I even Bumped it up to 300,000 still worked.
Then I bumped it up to 3,000,000. I couldn’t see the projectile at all but it was still hitting/moving the physics targets.