What is the proper way to update velocity in a movement component?

I am trying to make a pawn with a custom movement component to simulate character movement like in the source engine. I am new to C++, but fairly experience in Unreal Engine. I followed this tutorial: Components and Collision | Unreal Engine Documentation
And (after many fixes to the example pawn code) was able to make a working pawn which moved around through the level and slid along walls. The issue I found is that when checking the velocity of the pawn, it always showed 0.0, 0.0, 0.0 even when moving around, which won’t work for what I am trying to make. I have made my own simple PawnMovementComponent class with a tick function to set the velocity of the Pawn based on the input vector. When monitoring my pawn’s velocity through my debug HUD, the velocity appears to update as normally as I use my input keys, however the Pawn does not move at all.

Here is the paste of the movement component code I am using:

#include "MyMovementComponent.h"
    void UMyMovementComponent::TickComponent(float DeltaTime, enum ELevelTick TickType, FActorComponentTickFunction *ThisTickFunction)
    	Super::TickComponent(DeltaTime, TickType, ThisTickFunction);
    	FVector InputVectorNormal = ConsumeInputVector().GetClampedToMaxSize(1.0f);
    	Velocity += InputVectorNormal * DeltaTime * 600.0f;

As you can see, I am using UpdateComponentVelocity() at the end of the tick.

Here is some relevant code from my Pawn’s .cpp file:

RootComponent = CreateDefaultSubobject<USceneComponent>(TEXT("RootComponent"));
MyMovementComponent = CreateDefaultSubobject<UMyMovementComponent>(TEXT("MyMovementComponent"));
MyMovementComponent->UpdatedComponent = RootComponent;