is it possible and any way to simulate local real-time weather. so for instance when I look out my window and its raining it will rain in the game.
Yes it is all numbers and level responding to those numbers, you just need to formulate proper formula for want you want. You can use GameInstance to put weather logic if you talking about two separate levels or use level streaming which will make 2 levels run on same GameMode.
To get the local weather data, you can make requests to weather APIs using VaRest or if using C++ you can write a cURL request.