Is there a way to do programmatic render targets for lookups in Code and Material

Hey I was wondering if there is a way to populate a render target or texture programmatically. That is draw pixels from either blueprints, c++, a shader or a material into an output texture. Where this texture should be looked up in a program or another material.

Using render target is the way to go.
The render target produces a texture file…from which you can access in material editor like any other texture…you can sample it just like you would…as well as input it for use in custom HLSL nodes if that is where you are headed.