Dynamic Material Instancing through another blueprint?

I am not properly getting answer. Please help.
First in which blueprint I have to create this event.
Also we have events for mesh in details pan. and there is on clicked event with same variables"Touched Component/ Button pressed" Is this a same thing?

342187-screenshot-4.png

Because above I am not getting any funtions/events in create event.

You dont have to go through blueprinting all of these.

I am aware of blueprint interface very well as I am spending lot of time seeing this.

I just don’t get how the functions events connects to each other and some doesn’t

Please give me quick steps to do in few lines or point me to the tutorial where I can learn all this properly this time. ThankYou