Well, if your item doesn’t need collisions at all, you can simply create a collision Profile that ignores all channels except for Visibility. You can do so through Project Settings → Engine → Collision
In there find Preset drop down and add New… with your custom settings.
Something like
If your item needs collisions once it’s picked up, you can either destroy the Pick Up item and spawn another one that’s actually usable and that has other collisions, or you can change the collision Profile.
The only thing with this approach is that you have to change the collision for all components in the actor (the ones that need collision changed) individually.
You can find out more in this video:
