A couple of lightning effects: AoE and a beam from the hand. Breakdown on 80 lvl - https://80.lv/articles/how-to-set-up-lightning-effects-with-unreal-engine-5
Cast and lightning strike
Sprites snapping tips
Lightning beam
Various beam options

Little breakdown on 80 lvl - https://80.lv/articles/how-to-set-up-lightning-effects-with-unreal-engine-5