How to mass reduce texture resolution in UE5 project?

Hello, I recently finished a draft of my first game, and am having a hard time figuring out how to mass reduce the resolution of the textures. It lags hard, as many of the textures are 4k and 8k. Being my first project, I didn’t realize how important it was to pay attention to resolution when adding textures.

I did see a few solutions online for UE4 that mentioned a “Maximum Texture Resolution” setting, that can be set to max of 2K for example, and from what I understand that would automatically reduce the resolution of any texture higher than that. However, I can’t find that setting in UE5, or anything like it. Does anyone have any suggestions, aside from manually changing each texture individually?