These need to be created when the item is modeled in Maya or Max. In a very brief overview, they work by creating two static meshes with the same vertex count. You can then blend between these meshes to say it’s 20% cube and 80% sphere by driving weights in the blueprint.
It’s an alternative to bone animation - particularly good with faces and other stretchy things
Once you have a model set up with morph targets, there’s a tick box to import them on the mesh importer dialog box.