Hi,
CableComponent is different than Physics Simulated Objects, even though it got Collision feature in 4.14, it still ignores Trace for some reason. So I think it isn’t possible to use Cable Component with PhysicsHandle directly. But you can add CableComponent to a physics simulated StaticMesh. This way you can at least pick it up by grabbing StaticMesh. Still not same as freely grabbing rope but that is all we can do with Cable at the moment AFAIK.
Hopefully Epic will add more features to CableComponent in the future.