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Advanced Cloth simulations

Any cloth experts? Is it possible to approach this quality inside UE4?

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No.

And there’s no ifs, buts, or magic about it.

Silk like that has a ton of geo. Even if you make the cloth, paint it and toss it in engine, nothing in engine will get it to fold like shown.

if your end game is a render. Use a 3d program to simulate cloth with and get the final mesh. You can then pop it into the engine and take the still (though the 3d program might do better at that too).

If you want a real time simulation capable of that - maybe once chaos is finalized and optimized for a new cloth path - maybe.
current the classic phisx implementation blows, has all sorts of issues (like backstop not working as described by invidia). And most importantly by itself is not reactive to anything but movement and wind.
That means no collision with world objects unless you go through the trouble of making a specific mesh with an armature to address it.
Something else I kinda hope Chaos will finally really solve.

Thanks for the feedback.