Where did you see that?
From many conversations I had with Epic and Oculus on this and Oculus’ forum, I take that UE4 for Gear VR is at the bottom of the list of priorities. VR team is small, and mostly dealing with Rift/Vive and now Daydream. I don’t know why Gear VR is not a priority, but I have a feeling it has to do with Carmack (he replied to me on Twitter that UE4 is not suited for Gear VR, despite the fact that it’s quite possible to make games/apps using UE4 for Gear VR and it has been proven in the past) and whatever politics are going on between Oculus and Epic. I fail to see any other reasons (yes, VR team is small, but Daydream isn’t even close to be out and it’s based on Android too, so spatialized audio would have to be developed before it comes out; too bad it might not be compatible with Oculus Audio SDK for Android; Gear VR already has 1M+ and it seems that wrapping up support for all current features it needs should be a priority).
No, it’s not supported and it might be coming any time soon. That’s why there is FMOD and Phonon, so that you can use those middleware products with UE4 to get true spatialized sound, early reflections and occlusions. It’s a cheap (price-wise) solution and I am not sure why would you not use it.