If you want In Game Screenshots then you should try High Res Screenshot, it is standard Practice for that Purpose.
Here is additional Post and Forum Topic which can help your doubts for High Res Screenshot with Custom Directory
If you want to Bake Texture or something Similar then Render Target will be Best for that.
You can do that with Editor Utility Widget (But it won’t work on Packaged/Shipping Game).
Thanks for the reply. I am not looking necessarily for screenshots, but to build a camera in-game which can display the photos as textures i.e. in a photo album widget or as paintings on walls etc. The screenshot feature could work, but then I wonder how I can read the photo directory and get it in a blueprint as a texture? Any ideas? Thanks!