At this time i prefer the UE4 way even in its current unfinished way. Besides the fact that i can control the LPV i also have the option to fake GI much easier than in any other engine by using Blueprints. Setting up a light with fill or bounce lights is actual pretty easy you can even trace the distance to nearby geo and scale the intensity of the bounce light based on the trace distance. At the moment i do have this just in rough way for static geo but i bet this can be done for dynamic objects as well. If this would be performance friendly or practical stands on another paper but it’s possible.
The key in game development always WAS AND IS to think outside the box, abuse what you have for whatever you need it! Even if Epic comes up with a performance friendly SVOGI -like solution, there will be still limitations which we have to work around.