Game version: 1.04.152253
Discovered while investigating different large objects (Generator and car tire) to check weights of the listed items.
When picking up a large item and dropping a weapon it is impossible to pick it back up. The item does however appear back into inventory when character has logged out and logged back in. Items aren't duped, or left behind, rather just "invisible" to your inventory until you log out and back in. I say this as it doesn't show item in the inventory, doesn't take up spots in inventory, and item still appears to be on ground until you've exited and re-entered the server.
This was tested on official New York Server-2230