Assign Material Within Overlapping Component Area

Hello all,

Is there a way to assign a material on surfaces only within an overlapping component area? For example, I have an expanding Sphere component and surfaces or parts of meshes within the sphere are assigned a material. I DO NOT want to change the material of the whole mesh, just the part of it within the sphere. So basically a Sphere Mask within the world at runtime.

For context, I have implemented the cutoff material as shown in this video (Material Cutoff Effect Tutorial - (UE4) - YouTube). But this requires the cutoff material to be the default, and I am unsure as to how to use this on top of the original materials. So right now I have an expanding invisible sphere and I would just like to know how to make it work like a Sphere Mask in the world to apply the cutoff material.

Thank You.