you have different options depending on the result you want:
you can do it directly in your material, using vector math, there s a good exemple in the content examples (math hall if i remember well)
you can cast the traced object to it s class, and the get a reference to the mesh, and change it s material, (but that can be trick as you may have many different actors class)
you can add a simple outline using a post process and custom stencil pass (enablig custom depth on the actor you are curently looking at)