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Unreal Engine 4.14 introduces a new forward shading renderer optimized for VR, enabling crisp multi-sampled anti-aliasing in your games. The new Contact Shadows feature renders beautifully detailed shadows for intricate objects. Epic Games also introduced a new automatic LOD generation feature for static meshes that does not require a third-party library.Engine 4.14 streamlined the animation tools to help you be more productive, and added many new features to Sequencer (UE4’s non-linear cinematic tool), as well as improvements to vehicles, clothing and animation Blueprints.
This version supports precomputing lighting for multiple lighting setups with the same geometry! This is especially important for use cases such as VR and architectural visualization where you need the highest possible quality at the fastest possible performance.
The new forward shading functionality can now be used on translucent surfaces to get specular highlights from multiple lights and image-based reflections from parallax-corrected reflection captures!
Unreal Engine 4.14 now supports full resolution skin shading for the Subsurface Profile shading model. This provides high-fidelity lighting for surface details such as pores and wrinkles.
More details can be found here
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