Make actor that reads location and forward vector of character (using tick).
Then make it update self location to location of character plus (some value times forward character vector; some value times right vector; some value times up vector) to make offset.
However remember this solution is for single item and single player (it is bit heavy to make multiple items like that at once).
When you have that actor , add logic to hide it (change visibility( and toi change its mesh component.