Cull Distance Volume Units are not in UU?

Hopefully I will get an answer on this quickly.

I have a cube that is 100x100 (default). Around the cube is a cull distance volume.
There is only 1 cull distance on the volume. It’s values are Size:0, Cull Distance: 500.

Now, this should only render the objects inside of it, if the player is within 500 unreal units, right?

Well, I print out the distance the player’s camera is from the cube every frame, and it only renders the object once the player is within 200 units of the cube.

Does the cull distance volume use different units than I am used to? This is incredibly confusing, and it has cost me countless hours. Let me know what you think.

NOTE. This can be reproduced on the default First Person Template. Simply set a cube to static, surround it in the cull volume. And add the cull distance that I specified to the volume. You can then see that it culls the object at 200+ units away, not 500.