What can I use besides Event Tick to execute events that need to be checked constantly or events that do not have a trigger like a key press?
Tick is for stuff that needs to happen every frame.
If you need to check something regularly, but not every frame, then use SetTimerByEvent or SetTimerByFunction.
I will add to this that you will also want to know about the Clear and Invalidate timer by handle node. this stops the looping event. the blue handle pin expects to be plugged into the return value pin from the set timer nodes.