I guess, as phil_me_up suggested you’re most likely to have to reduce the triangle count of your meshes, as well as the amount of lights.
I guess you want to create some kind of LED spotlight effect, you could look into IES Light profiles ( IES Light Profiles | Unreal Engine Documentation ) and Light functions ( Light Functions | Unreal Engine Documentation ).
We can see in your screenshot above that most of your render time is taken up by the lighting pass. This pass get’s more computing intensive with the amount of light sources, light source radii, shadow casters, shadow caster complexity (tri count), those are not all but those are the most prominent one’s here, is my guess.