You can setup the root of the component to be at the center of the point you want to rotate around, but I personally prefer to be able to set these points dynamically as it makes for better asset re-use.
The method described here should help you define a point you want your actor to rotate around without having to modify the actor itself. I’d probably put this as an actor component rather than an actor itself, but it depends on your needs: https://unrealcpp.com/rotate-around-vector/