Looking for suggestions/methods; Unreal Engine - importing/using polygon heavy models

Hello,
Your pipeline will depend on how much modification addition you want to do on your CAD file.

In an Unreal only approach you can:

  • If you can get the solidworks files from the factories you would have control in the tessellation and thus heaviness of the model. You can import solidworks files using Datasmith. It is always better to work on the original CAD data if possible.
  • Else load your step file through Datasmith.
  • You can then simplify the geometry using LoD. You then can force the engine not to use your highest LoD. However your very high poly model will still be available in your content browser and the size of your asset will not be as optimal as if you use a simplified step or a light tessellated solidworks file. Creating and Using LODs in Unreal Engine | Unreal Engine 5.1 Documentation
  • You can use the static mesh editor tools to create new material slots https://docs.unrealengine.com/en-US/Studio/Datasmith/HowTo/ModifyStaticMeshGeometry/index.html and you can also use some simple UV projection tools for plane, cube and cylindrical projection inside the engine. It is new in editor in 4.23 (in the UV tab of the static mesh editor) and was there as python/blueprint in 4.22. You cannot edit UV directly
  • to render videos out of UE4 you can use level sequence and rendering tool Rendering Out Cinematic Movies in Unreal Engine | Unreal Engine 5.1 Documentation

Now if you really need to work on low poly step files you will have to reduce them outside of the engine.
In a similar way, if you need extended UV features you will have to use a third party digital content creation tool.