Yes you can. It depends on the game and the asset. Some assets take months to finish and some crappy games a week & vice versa. The point is, both are IPs and our 3d files need to be protected the same way customers can’t access your source code.
I disagree. The UE5 modeling tool kit is more than you need to play around with bought assets. Wishing to do more, raises IP concerns (such as re-sculpting, re-painting, decimating for 3D printing, etc).
You can export the textures all you want but if the 3D file is locked inside UE5… then your modified textures will be Junk. All 3D painting software requires a 3D file to read or generate UVs, including vertex paiting.