Sharp shadows from HDRI only


I spent entire day googling but I could not find any specific answer on this forum or elsewhere.

I am wondering if UE4 Lightmass is capable of producing correct shadows from HDRI maps (when combined with Skylight of course). I have many HDRI maps that were captured in the sunlight with correct 12 stop range, so they produce high contrast sharp shadows as sunny day should in any offline renderer. UE4 however, seems to clamp illumination from cubemap mapped skylight to extremely low values (i think 0-1). All the suggestions and even official tutorials seem to simply add a directional light that is roughly aligned with hotspot on the HDRI map, which is as incorrect workflow as it gets. From that, I get an impression that UE4 is simply not yet capable of correct HDRI illumination.

Is that correct or am I missing something?