This relatively simple setup, seemingly using a RectLight and a media texture with MegaLights enabled, was created by Stuart Lippincott, also known as stuz0r. It looks like MegaLights, Unreal Engine 5.5's brand-new feature that allows one to add hundreds of dynamic, shadow-casting lights to scenes without performance limitations, is going to be a game-changer for cyberpunk environments, especially when it comes to screens, ads, and billboards.
Check out more of Stuart Lippincott's recent Unreal Engine 5 works and visit his YouTube channel for guides on workflows behind some of these pieces: