hi, had the same issues on ue5ea but I’ve tried following these steps from a reviewer on the app’s page and it connects (unfortunately the last step makes the editor crash so no camera transform so far, will try on 4.27):
THATRYANMANNING ,
10/12/2021
Here’s how it works
Follow these steps closely.
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In your Unreal Scene (4.26 or Higher; 4.27 recommended), make sure you’ve setup your Static Endpoints under “Project Settings” → “UDP Messaging”. You should have the IP of your PC as well as the IP of your iOS device. They need to be on the same subnet to work properly! - 
Add a VirtualCamera2 Actor to your scene. 
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In the VirtualCamera2Actor properties, select the VCAM (Inhereited) from the components tree. 
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Under “Virtual Camera” check “Enabled” 
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In the “Output Providers” rollout, under “0” → “Output”; Check the “Is Active” toggle 
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On your iPad/iPhone launch the Live Link VCAM app BUT DO NOT CLICK CONNECT! (When the app is open it sends a signal to your PC waiting to connect) 
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In UE, in the Live Link window, click “+ Source”. Your iOS device should show up now as a VCAM source. (NOTE: If you hit connect on your iPad before this step, you didn’t read #6 carefully enough.) 
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At this point you should: VCAM and Is Active Enabled, your iOS device active in your LiveLink Window, your iPad app still on the Home Screen (magenta with Connect Button). 
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Hit Connect 
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Lastly, under the VCAM Properties there is a “Live Link Subject” drop-down. Select your iOS device from this drop down and everything should start talking to each other; VCAM UI showing on both Project and iOS device as well as telemetry data. 
 Hope this helps! 
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edit: can confirm it works flawlessly so far on 4.27; ue5ea also has some app UI issues but will most likely be fixed by full release