Reloading assets at runtime ( editor, game)

My goal is to write a asset pipeline which auto updates .uasset files directly from the DCC package ( maya, max )

Before actually working on that part i was wondering if UE4 supports reloading assets such as an model or animation at runtime? Lets say i open up the game/editor preview ( uncooked ), do my modifications to the specific .uasset ( walk.uasset) will the changes be shown directly? Or is a restart required?

The whole idea behind this is seeing your results made in maya, max with one click in the engine, i believe some UE3 licensees had done direct injection into.upks to update assets, though not sure if UE3 supported auto reload back then.