Yes this is in fact true, in UE4 during the Hellblade demo this displayed this.
One of the pros stated…
“-Right, if you want to use UE4 to just render stuff and don’t care about real-time performance then it becomes much easier, you can render things pretty nicely and there’s quality settings that you can turn up if you don’t care so much about it being real-time. There’s also stuff like Nvidia VXGI which is available for UE4 if you want to try a dynamic global illumination system that you could use and turn up the quality if you don’t are about framerate.”