So just to update for future viewers, the main problem was that using the character movement component with low friction meant that once i released forward axis input from 1 to 0, my character would no longer apply forward momemtum along the axis of the camera (and player) was facing. meaning I would just fly off at my last known trajectory that input was applied.
Solution: Using Finterp on the forward axis allowed a blend of values from 0 -1 and 1 - 0 meaning when i released input my character would still have some grip and slowly come to a stop but still moving where I aimed the camera.
