When setting the ‘Lock Rotation’ physics constraint on a component that is simulating physics, the X,Y,Z are world relative, and not BP relative, and there doesn’t appear to be a way to change that.
For example if I had a pendulum or bell BP where the object can only swing a certain way relative to the BP it would not swing if that BP was placed in the map at a 90 degree angle to the locked rotation.
I’ve included an asset. Add two copies of the asset to a map, one rotated 90 degrees on the Z axis, and simulate. One should begin to rotate correctly, the other will stay stationary.