The “physical camera” name only refers to realistic exposure (only in terms of brightness) and camera controls. Trying to use it to control the motion blur or do long exposures wont work. Motion blur is a completely separate part of the engine, and a very rough approximation of how exposure and motion blur work in real life, because it is a VERY expensive effect to do accurately.
The motion blur at its default settings should be pretty similar to that 180 degree shutter or double the frame rate.
In your quest for smoother animation, try making the clip 2x or 4x longer than you want in UE4, render it out, and then in a video editing application speed it up. I’ve seen people do this with video games to make buttery smooth videos by recording replays at 1/2 or 1/4 smooth and speeding it up in post. Probably have to play with how your video editing application deals with having multiple frames in for 1 frame going out (I haven’t done video editing in years).