Unable to set material of Static Mesh Component with a generated Static Mesh in build

Hi, I am converting a Procedural Mesh into a Static Mesh, and then assigning it a material using the Set Material node.
This works well in editor mode, but when I make a packaged build the material does not show up. It instead shows the light grey / dark grey checkerboard pattern.

Here is my code for converting the Procedural Mesh into a Static Mesh

UStaticMesh* UProceduralHelperFunctionsBPLibrary::ConvertToStaticMesh(UProceduralMeshComponent* ProceduralMesh, UMaterialInterface* Material)
	if (!ProceduralMesh)
		return nullptr;

	FMeshDescription MeshDescription = BuildMeshDescription(ProceduralMesh);

	// If we got some valid data.
	if (MeshDescription.Polygons().Num() > 0)
		// Create StaticMesh object
		UStaticMesh* StaticMesh = NewObject<UStaticMesh>(ProceduralMesh/*Package, MeshName, RF_Public | RF_Standalone*/);

		// Enable CPU access for the static mesh
		StaticMesh->bAllowCPUAccess = true;


		// Add source to new StaticMesh
		auto Desc = StaticMesh->CreateStaticMeshDescription();

		// Assuming you have access to the MeshDescription object
		FStaticMeshAttributes StaticMeshAttributes(MeshDescription);
		auto VertexInstanceColors = StaticMeshAttributes.GetVertexInstanceColors();

		// Set vertex colors explicitly
		for (const FVertexInstanceID VertexInstanceID : MeshDescription.VertexInstances().GetElementIDs())
			FVector4f VertexColor(0.0f, 0.0f, 0.0f, 0.0f); // Set the initial vertex color to grey (0, 0, 0, 0)
			VertexInstanceColors[VertexInstanceID] = VertexColor;

		// buildSimpleCol = false, cause it creates box collision based on mesh bounds or whatever :(
		StaticMesh->BuildFromStaticMeshDescriptions({ Desc }, false);

		// Create collision data for the static mesh
		UBodySetup* NewBodySetup = StaticMesh->GetBodySetup();
		NewBodySetup->BodySetupGuid = FGuid::NewGuid();
		NewBodySetup->bGenerateMirroredCollision = false;
		NewBodySetup->bDoubleSidedGeometry = true;
		NewBodySetup->CollisionTraceFlag = CTF_UseComplexAsSimple;

		// Copy convex elements from ProceduralMesh's BodySetup
		NewBodySetup->AggGeom = ProceduralMesh->ProcMeshBodySetup->AggGeom;

		// Create physics meshes

		return StaticMesh;

	return nullptr;

And here is how I use it in Blueprints:

Does anyone know how I can fix this issue?

I am having the same problem.
Does anyone know a solution?