I finally had the time to do this tutorial, I hope you liked it ? This is my first tutorial in UE4 and I would like in the future to do more. This Blob need more love to have a better look but I guess that you had the global idea :)
Please feel free to modify it and don't forget to share your result :D
Link to Distance field function : https://www.iquilezles.org/www/articles/distfunctions/distfunctions.htm