Hi,
While this thread may be old, an efficient workaround for instances like this is to move all objects you don’t want in reflections out of the scene (i.e. the text) and then render a cubemap using the reflection sphere capture component or some other method of capturing the scene, save that cubemap, move the text back into the scene and apply the cubemap back to relative surfaces again, this will remove the need to create unnecessary modifications to your material.
A radical alternative would also be to avoid using unreal altogether and superimpose the text using masking in Premier or After effects (If you have the resources)
Hope this helped.