To prevent your own character from colliding with the bullets, you can you the node ‘SetIgnoreActors’. Once you have spawned the projectile, use this node to add your character into the list of ignore actors for that projectile. You can additionally add the reverse (ie add the projectile to the list of ignored actors of your character) just to be safe.
You can also add other team member characters into the list if you dont want your team-members to hit the bullets. If you just want to prevent friendly fire (ie your team mates can hit your bullets but wont take damage), you don’t have to do this, instead do it inside TakeDamage.
In the blueprint editor, get a reference of the collision component/mesh component(if you dont have separate collision component) and draw-out a connector and try typing Ignore Actor, it should pop-up in the list.
The name of the node is ‘Ignore Actor’