Can I use a 16bit texture in material ?

I want to know if I create a texture with type PF_A16B16G16R16 in C++ can I use it in material ?

I create the texture like this :

         UTexture2D* DepthTexture;
        DepthTexture = UTexture2D::CreateTransient(512, 424, EPixelFormat::PF_A16B16G16R16);
	DepthTexture->CompressionSettings = TextureCompressionSettings::TC_VectorDisplacementmap;

and then later I assign values to irs R,G and B
will the material convert if to PF_A8B8G8R8 or not ?

anyone ? please please help if you know anyway how to do it

Okay I got to know that such possibility does not exist now.
so even if in code a 16bit texture gets created it will be downscaled to 8bits per channel for the usage in materials