There is a new <HeadLightFlareComponent> section in the GP_Headlight14 blueprint inside the GP9\Default\Lights folder.
Is relies on both a FlareTexture a LensFlareTexture to provide the effect, which probably takes a few computer cycles.
I think the effect can be copied to other engines and seachlight signal beams as well.
It didn't really improve long range visibility of an approaching train unfortunately.
The piercing beam of a modern headlight should be visible well before the dark blob of the engine appears in view.
It is a close range effect most effective when trains pass each other IMO.
I wonder if the same could have been achieved by a DX call, Microsoft's DX game graphics engine must have some capabilities?