Models port over to UE4 pretty easily, too. The problem is when we start talking about materials done in engine. None of those will port automatically.
If you don't know what materials are - essentially they're a bunch of different details set in the engine that tells it what the surface of something should look like. Basically they answer the question: "when light hits this, how should it look?" Engines deal with materials in different ways, which can require different amounts of work. But any custom materials done in UE3 aren't going to port into UE4 well, and it's safe to say the same is true of UE5 until it's actually in developer hands.
There's other problems with swapping engines on top of that, as well. Engines have completely different development pipelines, and devs don't get used to new engines instantly (even when they make improvements to processes!). All script has to be rewritten, etc. But I guess mostly I'm trying to bring across that while mo...
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