How can I create a "speed" effect as seen in CW's "The Flash"

The closest thing I would think of is making a particle effect that you attach to your actor / pawn / character that you enable only when certain animations are played. Then its just a mater of making your particle effect look the part.

https://forums.unrealengine.com/development-discussion/blueprint-visual-scripting/1550-attaching-particle-to-actor