And if you want something simpler, consider Pawn + Floating Pawn Movement component.
If you decide to go the physics way, look into Physical Materials - this will allow you to control surfaces’ friction, restitution and some other settings not available anywhere else.
A pawn with floating movement comp, simulating mesh and physical material:
May require SOME tweaking. You should still control it with movement vector input. But external impulses and forces will affect it.