Okay so basically a text that is shown as soon as a specific event occures. I have something like that for a character entering the interaction radius for a chest but the condition should be easily changeable.
I first created a widget which consists only of a horizontal box and a text (deleted the canvas panel). In the blueprint I created 2 variables, 1 for the text (InteractText, text variable) and one for the actor on which the text location depends (InteractActor, actor variable). The content of the text (in the Designer tab) is bound to the text variable (InteractText). Then I created the following to set up text location and so on:
After that I used the following to show the text (here on event overlap). To hide it again just use ‘removefromparent’ as soon as it shall disapear. You can also just add it after a delay. In your case this should be added after the hit/miss event.