How to package actors and assets into a Content Package for use in other projects

Hello. Is there a way to create a Content Package from items and actors in a project? For example, I fixed some issues in a marketplace package I purchased. The art assets had unused materials on them, they were missing colliders, etc. I would like to create my own content package from items in a project so when I want to use those items in future projects I can without having to open the original project and migrating those items into the new project.

When I use to use Unity, there was an option to package off assets and import that package into other projects without having to reopen or even save the original project those assets were made in. My Epic Games Launcher is starting to get full with projects that have assets that I’ve altered or tweaked and I would like to start deleting some of those projects without losing the changes I made to the assets in those projects.