How do I simulate physics on a mesh?

In Details, set the component to have Transform > Mobility > Moveable ?
Optionally, click the Eye icon to the right of the Search filed and choose Show All Advanced Details.

And further down, under Physics, tick Simulate Physics.
The Mass value seems to be greyed out, but you can set Mass Scale, etc. in the advanced details.

If you want to have Hit events in your blueprint graph, tick Simulation Generates Hit Events.