Achieving fishing pole physics in Unreal Engine? [as in Unity3d]

Thank go 3dgo for posting your answer!

But I still have more questions. I tried to follow your answers to simulate the physics. It can be hooked up with objects just fine!
However, the resulting behaviour is not what you expect from a fishing rod. In normal conditions, the rod won’t bend by it’s own weight, as it bends only when it hooks with something. However, with your method, the rod bends regardless of the weight distribution/stiffness settings.
Do you know how can I fix this behavior?