Runtime Procedural Static Mesh Generation with Collision

From what I have dug up (all old stuff), it i not possible to render a landscape heightmap at runtime (procedurally generate a heightmap texture).

I was thinking of possibly using Procedural Generated Meshes, but found out that you cannot create collision at runtime.

With all the focus on procedural generation in UE5, and that I have heard runtime procedural mesh generation with collision is possible in Unity (?), as of 5.4 is there a way to generate a static mesh with collision?

The End Result Goal is to Procedurally Generate a texture or map of point locations for vertices in a procedural static mesh to create procdurally generated collision terrain at runtime.