Add Dynamic Bones in UE4?

My goal is to have real-time dynamics on a character (ie: moving hair, pouches, etc) and right now the only way I know how to do that is to bake it into the animation in Maya using Unreal’s ART system. Is there a way to set the bones in UE4 to be dynamic in real-time? Or are the jiggle, leaf, and chain bones only for baking in Maya?

Sure just add a physics asset to your rig. You can then add a dynamic spring action in the PHaT editor.