Hello joshuarobison1,
To answer your question, the engine at its core is for video game design itself. That being said, you should check out these fantastic art and visual cinematic’s some people in our community. The power of Unreal Engine 4 can be used to create some amazing realistic scenes, so to answer your question. Yes! 
Community Created Content
Also I am not sure if you have seen them or not, but we have a couple of very intense cinematic scenes that are realistic and have everything the animator, art enthusiast, and game designer could want!
Infiltrator Demo: - YouTube
Elemental Demo: - YouTube
I hope this answers your question!