Stripping unused LODs for static meshes doesn't seem to work

I’m following this documentation page and according to it setting a minimum LOD for a platform should lower the memory size of a static mesh:

While having multiple Level of Detail
(LOD) Static Meshes can help lessen
the rendering cost of distance
objects, the extra memory required
to store this information can be an
issue on platforms that have limited
resources like memory.

I set minimum LODs for my target platform, set everything according to this page so that the unused LODs are removed in the cooking process, but then when comparing memreports from the old and the new cook, nothing happens, the sizes in memory stay the same. Any ideas on what could be the problem?

Were you able to find a solution to this? I’m facing the same issue.
Even added this Console Variable , but it seems the unused textures are still in memory for some reason.