Separate resources for specific platforms


I’m developing a game title which I wish to be really scalable to support wide range of device classes from mobile devices to highend PCs. Obviously all deliverable packages should be independent for each device type, but I want to have single UE4 project to share most of code base and resources.
I wish UE4 can handle such scalability even by separating out some resources to diverge for different devices. For example, heavy weight meshes can have lighter version of meshes to be loaded on mobile devices and so on.

I don’t have much knowledge on UE4’s resources management system, yet. Can anyone guide me if this feature is something already supported by plain UE4, or if there’s another standard approaches for ultimate scalability?