A better texture with a proper hair shader will look about the same.
a full head of long hair cards probably has around 10 different strands that the artist can pick from.
The unreal docs and info on how to generate the textures are lacuster at best.
I had luck using a custom setup in blender to render hair strands into cards with random ID, normals, and all the other bells and whistles that other sources use.
The hair shader in the content examples needs work put in to make it work right, including some USF file changes to get the hair not to light up like a light bulb near point light.
Overall, there are much better made hair in other games. Naughty dog’s usually in the top range for character realism.
and they did publish a few videos showing how they do it.
Old stuff too. 2016, still useful.