Thanks for the links Amsirahc. In one of the threads they solved my “falling problem” by checking “Run physics with no controller” on the Movement Component. I also tried assigning an AI controller and that worked too!
I’m still having the issue of the Movement Mode being shared between characters. I got an answer from another user in the Answer Hub - it looks like the Character class shares its movement mode among all children. If this is the case, then its not possible to have a character swim while another runs :(.
If anyone has found a workaround for this, please let me know!
Thanks!