Get Static Mesh Bounds (Size)

Ok. Valid case. I would solve it this way:

Initially I assume that at least one decoration item of all available will fit into the room.
So the the room BP adds a static mesh component. This spawns the (empty) component.
Then I would set the static mesh property of the component to a decoration item and see if it fits.
If it does not, I would try to scale it down (torches can come in different sizes). If that still does not work becase the room is too small or scaling would be too excessive, then try the next one.
Only when no decoration item fits, not even by scaling, then I would remove the static mesh component again.

So, no matter how many meshes you try out, there is only one component involved.
You are not constantly spawning and destroying static mesh components.
Only in rooms that remain empty because nothing fits you create and destroy a component “for nothing”…