How to access a material instance variable from a blueprint object in Unreal Engine?

It looks like “Character material” isn’t a dynamic material instance. As far as I know you can only set parameter values from those. So if you dragged off the return value pin from the “Create Dynamic Material Instance Node” you would then be able to see the set/get parameter values.
Also if you were wanting to change the contrast parameter you would want to use Set Scalar Parameter Value.

Hope this helps