Fastest way to initialize UDynamicMeshComponent from UStaticMeshComponent

What’s the fastest / best way to initialize a UDynamicMeshComponent from UStaticMeshComponent?
I have an AActor which has a UStaticMeshActor* as input, i.e. in the ui, or blueprint, the user can pick a UStaticMeshComponent as source.
And then internally, I want to initialize a UDynamicMeshComponent (which is the Actor’s Root Component) from it, and then do non-linear deformations on it every frame.

Thanks in advance.