I helped develop a method to render point clouds. It involves using a texture as a lookup table to place geometry. Initially particles were used, but I switched to a static mesh to reduce overhead. Read this thread to see how it’s done. Here’s a link to the projectfound on that thread. If you have an NVidia card, I found the artifacts can be eliminated by using masked blend mode and a sphere gradient 2D, as long as the edges of the quads aren’t rendered the artifacts go away.
If you want to do it all in engine, rather than import an image, you can draw an array to a custom CanvasRenderTarget2D blueprint and use it as a texture parameter in a dynamic material instance. If you need any help with that let me know. The modified technique in this thread is more in that spirit. Here’s the project from that thread.