Mega Lights - I don't get it!

Mega Lights:

I love them. However, I guess am missing some fundamental information.

Version: UE 5.5.4.
Project Settings: Shadow Maps

Issue:
I am getting different results in rendering (and RT Editor Preview) when switching to Mega Lights.

  • Do Mega Lights require Virtual Shadow Maps?
  • Do Mega Lights require Ray Tracing?
  • Can I use Mega Lights with Lumen and Path Tracing?

I would need to use Mega Lights for better performance.
However, I need to know what’s changing when switching to Mega Lights so I can tweak the lights accordingly.

Would love to use Mega Lights for Studio Lighting and High Quality Product Shots.

Thank you so much for any more information on that, any use cases, etc.