What is the best workflow for animated equippable armor

I want my character to equip an armor piece and have it animated.

The look I’m after:


The characters in the video will never change gear, therefore I assume that their gear and character share the same skeleton. I want to be able to change gear.

I got directed to this post "How to Setup “Master Pose Component”:

Havent read into it yet but it might be what I’m looking for.