Correct me if I'm wrong but UE5 has no relevance for project like this.
Lumen is virtually useless, not much benefit to dynamic lighting for a few small indoor maps with static light sources, but nanite would probably be useful since it automatically scales polygon counts and doesn't render objects that are obscured from view.
Judging from the first few builds they weren't even using stuff like occlusion culling or LODs in UE4, which is why FPS would tank looking at players doing stuff on the other side of a few walls, so something doing that automatically would certainly be of use.
What I don't get is why they are rebuilding their framework in UE4
then porting it to UE5; or why they're rebuilding
again anyway since they've already done this multiple times. My guess is that Helius has mostly hired 3D artists and they don't have many, if any, devs with real game dev experience let alone experience making a multiplayer microtransaction based game with seasonal content.
That would explain why we haven't seen any evidence of story mode despite it purportedly having been in dev for years, or why gameplay systems like combat mode and all that management crap never materialise. It also lines up with the comments from those who cracked it who said the network code was a mess and traffic wasn't even encrypted, which is why setting up a server emulator was (relatively) easy.