God bless the community. Unreal Engine’s forum member ‘vblanco’ has showcased dynamic global illumination in Unreal Engine 4. According to vblanco, game developers can take advantage of GI via Light Propagation Volumes (the same GI system that CRYENGINE uses) and you can enable it by following his guide. Kudos to NeoGAF for spotting it. Enjoy the videos showing off dynamic global illumination in Unreal Engine 4!
Unreal Engine 4 Temple demo flythrough test