Is there a Better way to do this damage calculation?

[Everynone]

Damage Class:

Think of it as of damage processor BP. Try:

Unreal Engine 4 Tutorial - Damage Types & Status Effects

or

WTF Is? Class: DamageType in Unreal Engine 4

See if the system makes sense in your case.

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There’s nothing technically wrong with what you’re showing. But you may want additional features later on and it might be difficult to extend a system that is too fixed.