Use homing function ?
My goal was to attract health orbs to player … Diablo III Style.
" you could use the homing feature of the projectile component " - Tried this could never get it to work. Found out Homing worked more like " influence in direction when moving. Which worked horrifically for things stationary on the ground " Not at all like movie magic.
If your doing anything else then for sure try it.
“using Vinterp and a Timeline combined with Lerp to smoothly transition between the item actor’s current location (which is a vector) and the player character location (which is also a vector)” - In the end I ended up doing this.
Agreed Please don’t let me discourage. My attempts where versions ago so who knows. my big issues was I could never get them off the ground they would simply stall and roll no matter how high I set Z speed Z anything I am talking in the 100k’s just would not come off the ground. they where great at hitting the player in the foot but I was looking for mid chest lol.
I believe it was unreal themselves at the time that said homing on projectiles was more like an influence in direction and less like movie magic . I gave up because my time ran short and spending a week on health orbs was killing project goals so I used the more popular way.
By All Means Do not Let my bad experiences with it stop you from trying it yourself. Nothing like seeing someone say it cant be done and you make it happen to feel great about your skill. I encourage that type of thinking in creators it makes great games.
… this is an interesting question… you could use the homing feature of the projectile component… it would look very good and be very performance-efficient… bravo… I’ll consider using this one myself! 
other options include using Vinterp and a Timeline combined with Lerp to smoothly transition between the item actor’s current location (which is a vector) and the player character location (which is also a vector)
… hi Exxon, I’ve done quite a bit of playing about with projectile components, mostly using them as a basic flying chase AI. I totally respect your experience, and ground-based objects might be trickier, but but it might work… though there may be some adjusting involved 
respect to you Exonfluxx… maybe Epic had improved them by version 4:15. I did get them flying absolutely reliably and accurately towards homing targets… even moving targets
they did require quite a bit of adjustment though, and I do admit I didn’t have them flying close to the ground