I still can’t reproduce this issue with the following steps. Please let me know what I’m doing that’s different from you.
1: Create a cube in 3DS Max.
2: Export the cube to a location (I went with the Desktop).
3: Import the cube into the editor (I just dragged the cube from the desktop to the content browser). The new project I’m pulling the cube into is also located on the desktop (so it’s not in the default location).
4: Drag the cube from the content browser into the level so you can see if it changes.
5: In 3DS Max, change the cube (specifically, I squished it to half height).
6: Export the cube, overwriting the file on the Desktop.
7: Right click on the cube in the content browser and select ‘Reimport’.
8: See, in my case, that the cube squishes down to half height.