No, UE4 does have a dynamic lighting solution–all lights can cast dynamic shadows and it uses a deferred renderer which allows for many dynamic lights that don’t cast shadows. What it doesn’t have is a very good dynamic GI solution–that’s what we’re talking about here, making the lighting more realistic by making it look like it has bounce lighting. Many games start with a deferred renderer solution and then add some type of faked GI system, and they are designed specifically for how the game will use them, not as a solution that would work in most games.
With Enlighten, the only difference is that you can move the lights around, if you have an animated mesh, or a mesh that doesn’t exist at the start of the game then it doesn’t take part in the dynamic GI and instead uses light probes to try and fake the GI. That’s similar to what UE4 does, lightmass bakes the GI to lightmaps, and uses light probes for animated meshes. The only difference is that you can’t animate lights in UE4 and have them cast dynamic GI.
You could use something like VXGI currently in certain situations, if you lower the voxel density and turn off specular reflections and stuff like that. All the games currently have to make sacrifices in dynamic GI quality for it to run well, none of the solutions that those games use is as good as quality that you would get using VXGI/SVOGI.