Does Sea of Thieves use First Person Template or Third Person Template?

I’m trying to figure out if the game Sea of Thieves uses a FirstPerson Template or if it uses a ThirdPerson Template but with the camera attached to the character’s head. The reason why I’m confused is because of the interaction mechanics with objects in the game.

In Sea of Thieves, if a person picked up an object they would see their character’s hand holding said object at the bottom right corner of their screen. This matches their character’s animation when seen by other players, they can see the player character’s arm raised up and holding the object.

However, if the player where to look all the way up or down, the hand holding the object doesn’t change position, it follows the camera and occupies the same space on the bottom right corner of the screen. The part that confuses me is that the other players don’t see the player character moving his/her arm up as the player looks up, or down as the player looks down. The player’s character keeps the same idle animation and the hand stays in the same place, even tho the player moved the camera around.

Is this aspect possible only in the FirstPerson Template? Or is there a component or a BP code that allows this to happen? Might as well add that the player can’t see their own character’s bodies when they look down. Any insight or thoughts would be greatly appreciated!