Nope! Once you enable the Paper2D plugin and restart the project, you’ll be good to go. If you want more of a hands on into to Paper2D, since most of the official side tutorials are from UE4 they all reference the templates that are in fact currently missing, but still contain excellent information. Getting Started with Your Paper 2D Project | Course
That said, Paper2D just makes it easier to work with sprites, so at the end of the day you’ll be using native UE logic, so nothing will be a problem just working with the plugin without the preset.