I usually use static lights assigned to lighting channel 1. I also have a blueprint setup for movable lights that use the same/very similar settings as each static light, and place it in the same position. The movable lights are all assigned to lighting channel 2, and so is the player character. For each different instance of the movable light BP, there is an adjustable invisible box collision. Which will deactivate the contained movable light when the character exits the collision box/activates it when they enter. This ensures that there’s only ever two-three movable lights being rendered at any given time. Dynamic objects on the other hand use both lighting channels 1 and 2 and I also have them being lit as static objects until they are triggered, at which point they are switched to dynamic shadows and will then be lit by the movable lights.