I’ve never tried this, so I can only point you in certain directions.
For getting a point in space, it is very easy to do this in Blueprints by running a Line Trace by Channel (“Visible” or any other collision type you specify). Then you “Break Trace Results” and get the 3D point in space.
Now here’s where I can’t help: I’ve never tied a blueprint function (especially regarding vectors) into a material. BUT, you should be able to change a parameter in a Material Instance through the Blueprint so that you are getting a real time update of something. And from there, there are a few different distance functions inside the material editor that you can play around with to create a black and white gradient of distance, which will be your wireframe mask.
Any material can be turned into a wireframe with a simple checkbox in the basic settings (just look for it). Basically, I would have a wireframe material and your other base material for that quadrant be separate, and you LERP between them in another material (?) based on the distance mask that you created. I’ve never done material functions or material blending, but I hope it is straightforward.
Hopefully this gives you some ideas?