Should I divide big "static mesh" objects into smaller?

Let’s say I built a very big cave in some 3D modeling software. I want to set it’s collision to complex and just put it into the level. But what bothers me is that I am not sure whether I should put it as it is into the level, or cut it into smaller pieces and then put them as different static meshes of ‘cave’ actor for better performance.
Does it matter? Let’s say I have a Collision Sphere at (0, 0, 0), and some other collision primitive at (50000, 0, 0). Will there be collision check between those objects because they’re both were spawned and are active in the level, or collision check happens only at some chunks of the level?

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Modular is much better for lighting. You can also instance objects if you have a lot of them, that also helps.

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