1. It lists files such as YourPlayerController.cpp.
YourPlayerController.cpp as in the player controller that you are using, what ever you’re calling it.
e.g. ShooterPlayerController.cpp, FirstPersonPlayerController.cpp, GBPlayerController.cpp
2. Is there a way to toggle mode on and off or to have it has a ‘hold down to activate’?
It can be set to toggle (on/off) or be momentary (hold on, release off).
Just depends on how you set everything up.
3. Template or just start from scratch?
The quick VR test project I created to test various bits of code was based on the third person template.
It needed a player model and it isn’t hard to alter the third person movement.
4. Prefer C++ over Blueprint?
I do all the classes in C++ and then use Blueprints to flesh them out.
is a pretty typical practice for UE4 - check out the shooter or strategy examples.