https://evermotion.org/tutorials/show/10663/volumetric-lights-in-unreal-engine-4-16
https://www.youtube.com/watch?v=9tkPIGXJEGg
Open Epic Launcher (it's plish version here) and choose "Library" on the left. Choose "Add version" and install Unreal Engine 4.16 Preview 1 (on April, 28th there is no final release of UE4 with volumetric lights, but there is Preview 1 available. Preview version should not be used for your projects, it's mainly for test purposes. Create new project (desktop, high quality with starter content).
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Create a new empty level in Unreal Engine 4. Add a shape plane from Starter Content shapes folder.
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Add a spotlight to your scene.
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Increase light intensity.
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Choose "Exponential Height Fog" from Visual Effects Panel on the left, place it in the scene.
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I want a dark background, so I change fog inscattering color to black.
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Select "Volumetric Fog" checkbox on the right.
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Choose your light and increase "Volumetric Scattering Intensity". The max value is 4.
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Light with increased Volumetric Fog intensity.
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You can change light color, duplicate and make some nice discotheque effect!
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If you want a stronger effect, you can disable "Invert square fallof" and control light fallof manually.
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Coloured lights
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You can enable / disable fog on all lights by choosing Exponential Fog and disabling "Volumetric Fog" checkbox. You can also change intensity of all ights by playing with "scattering distribution" slider.
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By playing with albedo you can change the intensity of the lights of given color.
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Only green light fog is visible, because we changed albedo of the fog to green.
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You can "crank up" the effect by increasing View distance and Extintion scale values.
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Happy playing with the light! :)
Some more "artistic" uses of Volumetric Lights:
