From what I can tell from tests in 4.9, only root component is replicated unless it’s children are Actors that are replicated. If your root component is a scene component and static mesh component is a child of scene component, static mesh component will not replicate. Only scene component will replicate. Make your static mesh component root component and you are set. If you need a scene component, you still need to create a replicate enabled Actor with your static mesh component as root and you also need to create another blueprint actor with a scene component as root and static mesh actor that you created as a child of scene component.
Note: If you disable replication of an actor any actor set to replicate in actor will still replicate.