Dispplacement and Vertex Painting Still possible in UE5?

One of the methodologies I used frequently at many game studios in the past (Proprietary game engines) and a method that I was teaching right up until UE5’s release was building a shader that would cause tessellation and displacement and work properly with vertex painting in the various materials. This was for a static mesh (ground plane).

I see things have shifted a bit in UE5. I realize that There is a modeling mode that is used to apply a displacement based off of a 2d texture, but that doesn’t work with vertex painting methodologies (1 material assigned to each vertex color: black, red, green, blue).

Is there anyway of still making this happen? Perhaps taking the end height result of all the vertex blended materials from a material and baking it to a 2d texture, then using that texture in the displacement deformer texture slot?

I have the same problem. I was in "Boundless Entertainment " Course looking for a solution.

Also hunting for a solution. I’ll let you know if I find anything.