Setting menu above the play screen, go down to Scalability, Enjoy
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Is definitely what I use when playing inside the editor. In particular Settings -> “Engine Availability Settings” is very useful.
FYI: You can guys can technically open the the pause menu with the console command “ShowInGameMenu” (when running without dedicated server) but this won’t work like you expect for graphics settings inside the editor. It’s not something we normally do but can be useful to quickly turn off something like camera shake.