The Third Person Template way is exactly the best way to do it. At least within the Character class, there is a lot of control pre-built into that class. You could make a custom Pawn from scratch where you build in all those things. But as good as it is to know how to do those things, you don’t really need to invent the wheel twice.
Use your time to focus on the things that aren’t already built, you’ll learn a lot along the way. Vectors and Quaternions (rotations) are hard to wrap your head around to begin with. Epic did a Maths video a while back focusing on Vector math, but Quaternions are another thing.
Here’s the math video