Prevent physics between 2 collision components

What i have done:

a - (Pawn) My player is a boat that is simulating physics on a capsule component.
b - (Actor) I have created a physics actors that floats up and down in the water using capsule component.

Physics is enabled for both of these capsule components. Everything else on these actors have physics disabled and no collision

I have created a custom channel for each of these components.

When i do this, the items no longer float in the water or physically interact with anything else. They just fall through the bottom of the map?

What i want:

I would like to set up 2 specific collision components to ignore their physical interactions (so that they do not knock each other around)

As shameful as it is, i’m still stuck. bump