Extremely low rendering resolution despite high graphic settings

I’m completely new to UE4 and i created a new project so that i can test some stuff out. Despite setting my graphic settings to Cinematic/Epic and the rest to high, when pressing play and in the preview window the graphics and AA look extremely bad as you can see in the picture. Any ideas?

PS: I looked for solutions on similar questions but no luck there

What project template was it based on? Did you selected 2d/3d scalable or maximum quality when creating it? Have you tried other project templates?

This looks like wrong scale and anti-aliasing settings