How to import a changed skeletal mesh back into UE4?

Ok - I think I got it:

In order to get rid of dummy node without losing skinning info:
my suggestion would be to dupicate and copy the skin weights over.

  1. duplicate your rig.
  2. freeze the transforms you need to freeze.
  3. duplicate the mesh.
  4. bind your duplicate mesh to the duplicate rig.
  5. select the original mesh and shift+select the duplicate mesh
  6. skin > edit smooth skin > copy skin wieghts [option box]
  7. in the copy skin weights window choose edit > reset
  8. click copy