Shader compilation loading screen

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It advise to use FShaderPipelineCache::NumPrecompilesRemaining() to show the number of the precompilations remaining. I wanted to use this for a loading screen in my game where it shows the progress of the shader compilation, but this number is always 0.

I have set r.PSOPrecaching=1 in my DefaultEngine.ini

How do i actually do this loading screen for the compilation phase?

Using sta PSOPrecache i get this

does this mean that the compilation is still happening? Do i need to worry about having a shader compilation screen?