When will we get the mesh editing tool?

Hi, I am new to using the Unreal engine 4. I have a question regarding this feature:

Has this not been added yet? It looks pretty nice. I am planning on making a modular level kit and originally was planning on using Cinema 4D to do so but this looks like an easier to do this. I have a few questions though:

  1. Is this feature in Unreal 4 yet and if not how long until it’s ready?

  2. Is it possible to create level pieces using this and then safe them as prefabs, and then export said prefabs into another program such as substance painter for texturing, before then importing it back into Unreal 4?