What is the difference between Custom Events and Event Dispatchers?

First off, what kind of events are
these?

Event Dispatchers. Think of these as built in dispatchers inherited from the parent class. What you’re seeing on the list are their corresponding events. Let’s say you have an actor with a component that has an event dispatcher; you can evoke these calls automatically on the owning actors without any additional binding. And you can add your own, too.

What is their difference?
The only thing I understand about
event dispatchers is that they’re
different from regular functions, they
can have delays etc.

You meant Custom Events here, surely:

  • functions return values, custom events don’t
  • custom events can be replicated
  • custom events can use latent actions, like Timeline or Delay
  • functions have local variables