Load attached repro mission. You have a waypoint about 20m in front of you with a random placement radius of 84m. The player has a random placement radius of 50m. Take note of initial positions of the player and the waypoint. Make sure you have HUD waypoint information enabled and enter the game.
With a radius of 84m, sometimes the waypoint location will be random, sometimes not. 84m seems to be the limit for randomization in that particular area, probably based on how many open areas there are nearby.
Quit the mission and change the WP radius to 50m. Enter the game and restart it several times, and note that the player's initial location never changes, and the waypoint is always 22m in front of you.
Changing the WP radius to 85m will allow randomization, but the WP always seems to be about 85-90m to your left, across the bridge. Sometimes the initial location does not change.
Finally, drag the player and the waypoint to an open area without any buildings, and observe that both the waypoint and player begin in randomized positions.