Yesterday I spent an hour or so throwing together some physics ropes. It's a very basic, but pretty cool, implementation, and you can go view/paste/use it at BlueprintUE, which is a super cool site that embeds Blueprint graphs in the interweb.
Specify number of joints/drag end point around to set rope length. No guarantees as to whether this is actually practical for anything.
It creates a number (NumJoints) of physics objects in a line (relative location specified by EndPoint) and constrains each to the next, then also creates cylinders along the length to kind of fake a rope model. Or, if DebugLineRope is set, it'll draw debug lines between each joint. As the joints collide with the world, the rope can be draped over stuff. There is lots of room for improvement.