Since version 1.6 it is also possible to create an image from a RenderTarget.


SceneCaptureComponent2D


Render Target Texture



It is also possible to save a texture as an image. Up to UE4 there is the function texture2dToByteArray. In UE5 it seems not possible to read the texture from the memory.
But you can load the texture into a material and write the material into a render target.
If the image is too dark or too light then the SRGB settings of the texture do not match the render target. Please make sure that SRGB is enabled for both or disabled for both.

Texture Settings


Blueprints


Material