Dynamic Materials
It is possible to control material parameters in UE5 in a blueprint. This can make the materials react to things like explosions or the player touching them in the world, or to just dynamically fade away or change colors over time.
Step 1: In your BeginPlay, create a dynamic material instance and set it as the material on the object.
Step 2: You can use the various set material properties nodes (set scalar parameter on material / set vector parameter on material) to change the value of the parameters in real time.