I lifted what was relevant from an old project (opening 4.17 → 4.27 is no fun at all! 
but still pretty stunned it actually opens & works almost out of the box!):
Project link:
Here’s what this actor can do:
Some basic controls for this are exposed but it needs a ton of features to make it useable / more flexible. I’d start with adding controls for how many SMCs are needed for smaller / larger orbits - currently it’s a fixed number. May be fine depending on what this is going to be used for.
The mesh is made out of 3 planes with a dual sided material:
And holds up up close well enough:
The material can also do this:
I left it in, just disconnected. Do tell how it goes.