Rotation Around Custom Axis

So I’m dumb and I just can’t get this working. Maybe it’s not actually possible in Unreal Engine without hard-coding it myself. It seems like it should be fairly simple to do using vector math so I assumed it would be possible.

I just have a ship which can fly around in any direction and a child object which needs to rotate around the ship in the same direction relative to the ship regardless of the direction the ship is flying.

This is what I’ve tried but it doesn’t seem to work…