Actually, it’s not that next gen… was there for UE3/UDK all the time.
There are exactly two ways, and depending on what you want to do one is good and one is bad.
Static - your level lighting looks the same all the time? It wont change? Then use 2nd UV channel and bake lighting. Higher quality & better performance.
Dynamic - your light changes? Day cycles, all the lights go on and off or whatever? You can’t bake that. Forget about the 2nd UV channel.
Instead of that you might have to invest time into optimizing performance…