Here is a quick demo of a 3rd person character.
Note: large displacements have been turned off to compensate for UE4 lack of collision with displacement offsets on landscapes.
There are still minor intersections with the ground because of the detail displacement and the grass tool assets, since they have no option for collision in UE4.
You can tweak all the offsets and displacement amounts per layer via the landscape material.
cheers
Willi Hammes
Managing Director
MAWI United GmbH