Creating Displacement maps for / Using displacement maps in UE4?

I have a realflow simulation in 3dsmax. The file is too large for Alembic import. My hope is to make an animated displacement map in 3dsmax or other program of the animated mesh and import that displacement map to UE4 would this be possible. The water is a pool so it does not have much of a vertical componet. We need the wave pattern since it is critical to design.

Thank you!

I believe you could do this with a flipbook texture. The only problems I can think of are related to texture size. Depending on how many frames you want, and what resolution you want, you might need a very large texture.