The hide network monitor function in the 4.1.4 Nightly Build (5188) does not respect profile changes. If you associate the option with a particular profile and then switch to a new profile, it will remain in effect. And vice versa, if you are in a profile where it is not in effect and then switch to a profile where it should be in effect, it is not active. Perhaps this is related to the other profile switching problems noted in another thread.
I understand this is in a beta/nightly build so I am just relaying this for the benefit of other users who are working with the nightly build and the devs. Not complaining.