Edit:
I made some stabilizing code yesterday, it works fine. But whole hoover component acts weird, sometimes it gives wrong rotation values, sometimes it is somewhere off in 3d space. Weird stuff.
S0, I had idea for simple solution to what you want:
instead of making hoover component, make hoover blueprint (that uses thrusters) actor. Place 4 of them on corners, this will be great simulation of hoovercraft.
I will play with this a bit more tonight, this is fun physics stuff.