I would recommend using the Dataprep workflow to bring in your Revit model. You can use a material substitution table to pick which Revit materials you want to replace with UE5 materials.
You would still be using the “datasmith” model, but just importing it using a predefined system that you get to tweak to your liking. Pretty powerful for AEC Visualization.
This video covers it pretty well: https://www.youtube.com/watch?v=g7LS8SaHmsI