The Runtime Mesh Component allows for rendering runtime generated meshes as well as supporting collision with the runtime generated meshes. It is also nearly 100% compatible with the UE4 UProceduralMeshComponent

Examples project can be found here https://github.com/Koderz/UE4RuntimeMeshComponentExamples

Improvements over UE4 UProceduralMeshComponent:

• Frequently updating sections use faster update path and dynamic buffers
• Static objects use the static draw lists for lower overhead rendering
• Faster updates to sections for frame-by-frame update scenarios.
• 50%+ memory reduction.
• Multiple UV channel support.
• Custom vertex structure support.
• Corrected collision support, less cooking overhead. (More to come later)
• Collision only mesh sections.
• Shadow casting controllable per section.
• Serialization configurable to reduce map sizes when mesh saves aren't necessary.
• Sections can have separate vertex position buffer allowing for fastest possible updates when updating only the vertex position