Displaying custom class name and tooltip inside field dropdown?

Is it possible to change the displaying class name and tooltip description inside this dropdown?
It’s c++ classes and “DisplayName” attribute does nothing here.

In order for the class’s DisplayName to show up in ClassViewers, like the dropdown in your picture, you will also have to specify a meta value of ‘ShowDisplayNames’ in the UPROPERTY itself.

For tooltips simply specify the ‘ShortToolTip’ meta value for the classes themselves.

So with classes and properties set up like this:

UPROPERTY(EditAnywhere,  meta = (ShowDisplayNames))
TSoftClassPtr<UTargetTypeBaseClass> TargetType_SoftClassPtr;

(....)

UCLASS(meta = (DisplayName = "Target Type | Use Event Data", ShortToolTip = "Event Data Tooltip"))
class UTargetType_UseEventData : public UTargetTypeBaseClass
{
	(....)
};

UCLASS(meta = (DisplayName = "Target Type | Use Event Data Multiple Hits", ShortToolTip = "Event Data Multiple Hits Tooltip"))
class UTargetType_UseEventDataMultipleHits : public UTargetTypeBaseClass
{
	(....)
};

UCLASS(meta = (DisplayName = "Target Type | Use Event Data Single Target", ShortToolTip = "Event Data Single Target Tooltip"))
class UTargetType_UseEventDataSingleTarget : public UTargetTypeBaseClass
{
	(....)
};

UCLASS(meta = (DisplayName = "Target Type | Use Event Data Use Owner", ShortToolTip = "Event Data Use Owner Tooltip"))
class UTargetType_UseEventDataUseOwner : public UTargetTypeBaseClass
{
	(....)
};

You will end up with your dropdown looking like this:
ClassDisplayName