Hey Keegan, your understanding is correct, and indeed I noticed the same content browser oddities you brought up (I had neglected to mention those as they seemed cosmetic in nature, and that issue went away if I navigated to a different folder and went back).
I too was unable to reproduce the issue on a vanilla instance of Unreal with an isolated test case. I apologize that I’m unable to narrow this down, but is it possible that the issue requires a large amount of data already configured in order for it to trigger?
We’re open to trying out a conversion from data asset to data-only blueprints, but there is a lot of data to cover, and we also have multiple native derivations of the base type to account for (ie. UDerivedDataAsset1, UDerivedDataAsset2, etc that inherit from UBaseDataAsset). Any guidance on how to handle this cleanly would be very helpful for us!