I can check if I still have really old version of the “Tracked Vehicle” project where M113 used skinned mesh. Overall, it’s not too difficult to set it up, you just need Animation BP to move bones in relation to the wheels and do a small alteration to the math which calculates movement of the treads along the spline to pan material of the track. The reason I’ve stopped using it as it was taking more time for me make mesh, rig it, export it and wire animation BP. In production you would need to do it ones. You could even reuse animation BPs between multiple tanks as long as bones have the same name.
Skinned mesh should be actually faster in terms of performance, I was planning to use it as a LOD level for current setup.