Perhaps. Does the collision box belong to the player, to the flying object or is unrelated to any of them? You could try a Projectile Movement component’s Homing feature - that’s providing you must use physics because this behaviour does not require any unless it’s a specific design choice.
Besides that, if you have a Possessed Character, you can always access it like so:
Multiplying capsule relative location by 1000 is somewhat confusing, though.