Epic Games have just released Unreal Engine 5.3 preview. Being a preview release this of course means that you do not want to consider using this in a production environment.
Highlights of the Unreal Engine 5.3 preview from the Unreal Engine forums:
Unreal Engine 5.3 continues to refine the workflows and capabilities of its core features, such as Lumen, Nanite, Path Tracing, and beyond. With this release, these rendering features provide more control over performance and yield better-looking results. Users will see reductions in build times with Multi-process Cook, improving the ability to iterate more quickly on projects.
There’s also a number of new experimental features. With Volumetric Rendering users can now create volumetrics such as smoke and fire directly inside Unreal, alongside a Skeletal Editor for in-engine weight and skinning work. Unreal Engine 5.3 introduces full support for Orthographic Rendering, useful for architecture and manufacturing visualizations and stylistic games projects, and improved cloth tooling with the Panel Cloth Editor and ML Cloth.
For a more complete list of features and updates in Unreal Engine 5.3, visit the Roadmap. The full release notes will be available with the final 5.3 release.
Unreal Engine Mega Pack Humble Bundle (Shown in Video)
You can learn more about the Unreal Engine 5.3 preview and see the new Skeleton Editor tools in action in the video below.