V-Ray for Unreal supports some of the standard Unreal lights:
Fancy Bullets
type
circle
Point Light - A Point Lights emits light in all directions from just a single point in space. For more details on its functionality and use see the Point Light documentation.
Spot Light - A Spot Light emits light from a single point in a cone shape in a set direction. For more details on its functionality and use see the Spot Light documentation.
Directional Light - The Directional Light simulates light that is being emitted from a source that is infinitely far away. For more details on its functionality and use see the Directional Light documentation.