This is exactly how our independent plugin Brigge for Meshes works :D. It’s early access, meaning still plenty of work ahead, but you can start using it now.
From the documentation:
Brigge for Meshes sets up Material slots in Unreal to match those in Blender. It looks for existing Unreal Material assets in your project and will assign them to the StaticMesh if their names match. Missing materials or empty material slots are perfectly ok! These will use the default world grid material and you can assign them once you’re ready to think about materials. Brigge will never create “dummy” materials or disrupt your slot order.