This is how I would do it. Give it a shot. Code is untested:
auto newComponent = NewObject<USceneComponent>(this, USceneComponent::StaticClass());
if(newComponent)
{
HeldItemRoot = newComponent;
newComponent->AttachToComponent(GetMesh(), FAttachmentTransformRules::KeepRelativeTransform);
newComponent->RegisterComponent();
AddInstanceComponent(newComponent); // Refresh the editor so we can see the component
newComponent->Activate();
}
This should create a SceneComponent connected to the mesh returned by GetMesh.