While the new 5.1 release of Unreal Engine includes a new Media Plate Actor feature for better video handling, versions 5.0 and earlier lack this new tool. In these earlier versions, the most reliable method for handling video playback in conjunction with Level Sequences and Movie Render Queue is the use of Image Sequences, where each frame of video is a single image file.
This video shows how to set up a video image sequence for use in Unreal, and configure the assets needed to incorporate the sequence for frame-accurate playback via Sequencer. This approach is usable in older versions of Unreal such as 4.26/4.27 as well as the latest releases of UE5.0 and 5.1.
