"Stripped" LOD still in memory

I’m trying to create LOD’s on my static mesh so that I can have different quality depending on the target platform. I’m setting a minimum LOD version based on the target platform. It works ‘kind of’. So it only renders the minimum LOD that I set but I can see that the other mesh and material is still in memory unnecessarily. I’ve gone through the documentation and added the console variables to not cook LODs that are not being used, but still the unused assets are in memory.
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Below are the settings on my static mesh: