V-Ray for Unreal Update 3 by Chaos Group is now available.

The newest version adds support for the team’s Chaos Cloud online rendering service, both for rendering and baking lightmaps.

It also adds the V-Ray Material Optimizer, a MAXScript that lets users optimize V-Ray for 3ds Max scenes for export to UE4, set lightmap resolution, and simplify complex materials.

You can get an annual subscription for $219/year. V-Ray for Unreal Update 3 supports V-Ray for 3ds Max, Maya, Rhino, SketchUp, and Unreal Engine 4.23.1+. 

You can learn more here.