it does look like Armored Core remade in UE4.
It seems to have elements of the first one though.
He has some other work up, so I guess he must be experimenting with stuff prior to making his own thing.
Slower moving projectiles that follow your mouse would be OK, but this is supposed to be a skill based shooter so I would avoid anything that is fire and forget. That includes automated drones and turrets or lock on projectiles.