Hello there @volumetrix!
Checking around the community, the setup you are suggesting should be possible, yet it won’t be stable. Please take in consideration, that UE is not compatible with VS 2026, as seen in the Epic doc below. Also, any VS setup must have all addon components installed with their proper versions.
On top of that, the version you are using, 5.4, predates VS 2026, so it won’t be able to recognize it as compiler at all. Yet, since your setup can compile, what we need to do is to convince UE that VS 2022 is in the system.
To do that, download Visual Studio 2022 Build Tools and install the “Desktop development with C++” workload only. This should add a VS 2022 entry to your registry, which UE 5.4 will pickup, without affecting your VS 2026 install. Once you are done, restart both UE and VS, then re-open your project, and try to compile it.