Today we launched Unreal Engine 5.4 Preview 1 with the full release coming in late April. UE 5.4 introduces a number of rendering performance improvements, including major updates to Nanite, such as Nanite Tessellation that enables you to achieve far higher visual fidelity without making meshes larger on disk.
Check it out!: Unreal Engine 5.4 Preview
https://dev.epicgames.com/community/learning/tutorials/BJMZ/unreal-engine-5-4-preview-1-state-of-unreal-gdc-2024