How to create a 3d sphere around an actor?

I’d like to render a 3d sphere around an in-game mesh, to indicate it’s radius of affect.

Is there a procedural approach to this, or are most people just importing a static mesh for the sphere and using that?

I guess you could spawn a particle effect with a specific radius as well, depends on what you want to achieve or rotate a small curved arrow (arrowhead on each end) around the border (like planet rotates around sun) etc