Hi Zach, were you able to figure something out? I’m currently going down the same path and would appreciate any advice you have.
My current approach is centered around the unreleased nanite tessellation in the ue5_main branch. I’ve tried triplanar projection of normal and displacement maps, as well as a projection from the position of the camera (kind of like what you mentioned). Both have their drawbacks. Triplanar projection is costly, and can’t easily simulate waves produced by a wind from a given direction (Would have to be a complicated equation that translates some projections while rotating others). The single projection from a camera’s point onto the world is nice, but you’re stuck having to account for camera movement, and you can’t sync waves across cameras in different locations.