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Engine subtance Designer

Hello

I intend to use designer and painter substance for mesh created with 3ds max.

After you install subtance Designer epic game launcher application installed engine designer (see image below).

http://img15.hostingpics.net/thumbs/mini_309367subtancem.png

Should I install it?

See you soon

First off you posted in the wrong section mate, next time put in one of the Development Discussion subsections.

To answer your question, this is a plugin provided by Allegorithmic which gives you the ability to use substances (.sbs/r files) with all its exposed parameters inside UE4.
So if you are able to save your textures as an sbs/r file you can use this file inside UE4.