Is this 2018 MacBook Pro Okay for UE4 Development

I would say yes. if you’re going to be doing intensive 3D games, then either a windows machine with an Nvidia graphics card, or sticking with the Macbook and getting an eGPU. but thats only for intensive 3D. Im using a 2015 MacBook and it works well enough, though my compilation time can be pretty poor in Xcode.