Texture size better be power of 2 for VR? what format is better for artists to make?

texture size better be power of 2 for VR? what format is better for artists to make?
Thanks!

Yes, power of 2 allows mipmaps, not only for VR.
.png is a good format to use.

for every platform?
and how about non square textures. will UE automatically combine them into a big squared Texture of power 2 ?
or does the users need to combine them by theirselves?

ALL textures MUST be a power of 2 on import, the only exception is if you are using it as data, like a palette, or sprites, even then power of 2 is very heavily suggested there.

Also, all textures are converted to a platform appropriate format automatically. This is why you use png, textures get recompressed to a format that is easy to run, but the lossy compression introduced by jpg stacks with the lossy compression when turned into said texture, which doesnt look very pretty.

Thanks so much!