Same problem here, the sound reduction does not take effect and the sound is either really loud or really quiet in Unreal despite good spatializer reduction when tried in Fmod.
Currently this is the expected behavior, if ‘override’ is enabled on the spatializer then it will override the distance values from the event macros and this is what the integration uses for setting attenuation and drawing the gizmos.
Although we have a task to make getMinMaxDistance also use the override from the spatializer but it likely won’t be added to 2.03.