I have implemented a PID component in Blueprints, and although I have only used it in very simple scenes, it shouldn’t be an issue for performance.
Acutally, the only term that can have real performance issues is the integral term, as it accumulates error in time and uses that to output a value. That’s why the integral term is always truncated to only keep track of the last few seconds at most.
I would suggest using P and D only, however: unless you have severe asymmetry issues, P should be enough to correct for orientation, and D will dampen and stabilize everything.