This kind of polygon deforming effect should be accomplished by geometry shader.
But UE doesn't allow me to use geometry shader by default. So I decided to use Niagara to reproduce the same kind of effect.
It's controlled in real-time, no baked animation.
The tutorial of this effect is here:
日本語 -> https://coloso.jp/products/vfxartist-heyyo-jp
English -> https://coloso.global/products/vfxartist-heyyo-us