Is it possible to make a menu overlay like the SteamVR system menu?

I am making a VR game where there are various miniature levels, similar to a doll house. The player will move themselves all around the level inspecting details fairly close to the HMD. I’d like to have menus pop up for various reasons (dialog with NPCs, item descriptors, story details, etc.). The problem is the HMD is SO close to the items/world that if I spawn a 3D menu, it spawns in the middle of the world and overlaps game play meshes.

I have a workaround where the menu is spawned off in the distance, outside of the play area; it’s not ideal as the player has to stop focusing on the play area, look off in to the distance to read the information, then back to the play area. What WOULD be ideal, is a menu overlay like the Vive system menu, where the game dims or goes monochrome and a menu is placed in front of everything.

I’ve tried attaching menus directly to the HMD but I did not like the feel of it following the head. It’d be more ideal to function like the SteamVR system menu where it spawns entirely over the game in one spot. Is this possible in UE4 or is the UMG system not quite there yet?