Virtual Texture/MaterialRenderProxy sequencing issue - black/missing textures in materials

Steps to Reproduce
Right now in our project this is very consistent - seems to be 100% repro on the same textures/materials every time just loading up into our main world in a standalone/cooked build.

I haven’t had a chance yet to pull assets over into a vanilla 5.4.2 build yet and see if I can get a minimal repro, but I will update this section once I do.