How to show outline and change material?

I don’t know how to show outline and the material click icon automatically when you approach the object .Like this video

Here’s a tutorial on how to make an Outline Post Process material: Multi-color Outline Post Process in Unreal Engine 4

And you can do a LineTrace to detect if you’re within a certain distance from an object. You can read this documentation for some guidelines on how to set it up: Using Raycasts (Tracing) in Blueprints