You can also do using 3d UMG widgets placed in the world. You would create a material that is partly translucent (additive would work best) and then apply it to a quad static mesh. How you apply the motion to it would be up to you, it could be done with a timeline animating the rotation (with the mesh pivot placed at the top) to create a simple swinging animation that fires when the player gets close enough.
You don’t even need UMG to create really, the swinging animation would be blueprint based of course, but the text fading in can also be created in the material itself.