Hey there @Scrubzirra! The simplest way to do this may be using a Panner and some noise for the base layer. If you don’t mind a little more performance overhead, you could do the flares with a Niagara particle system constrained to the wall with a bit of gravity like ROFL suggested. Alternatively faking depth with a bit of parallax could work if your walls are just walls.
Older but still useful resource on noise in Unreal:
https://www.unrealengine.com/en-US/tech-blog/getting-the-most-out-of-noise-in-ue4