From my experience I’ve tried VS code and visual studio, I’ve been using VS studio community for a long time and it’s nice however in my opinion you really need visual assist to have a good time, I’m experiencing at the moment with visual studio 2022 preview without visual assist and so far the experience is being good so I’d say give it a try.
Recently I’ve been trying visual code and I’ve had a really good experience, VS code is not and IDE however it has some plugins that can come close to that. I really liked how fast I can load a project, overall it feels snappy and responsive.
In terms of UE4 VS code is supported and the engine can generate the necessary files, there are a couple plugins you should install to help with UE4, for example Unreal Engine 4 snippets.