Unreal supports 360 image and video captures using the Panoramic Capture plugin. For video media, sequences are the preferred method for animation within the engine…
https://dev.epicgames.com/community/learning/knowledge-base/2JkM/unreal-engine-360-panoramic-captures-and-sequencer
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For anyone revisiting this workflow in UE 5.7/5.8, I develop TrueODS, a Movie Render Queue plugin for Windows. We’ve implemented 360° omnidirectional stereo and VR180 rendering, with Lumen, correct stereo parallax around the full panorama, seamless volumetrics, HDR EXR output and resuming interrupted renders.
This 360° checkpoint sample was rendered at 8192 × 8192 in top/bottom stereo, with 8192 × 4096 per eye. The animation is a smaller preview alternating between the left and right eye.

Download the multi-machine rendering sample (MP4) · Documentation and original samples
Happy to answer questions about the output and workflow.