I had this idea and did a little prototype for a geometric fluid. Needs more work of course. Nowadays we can bring fluid-sims into realtime-engines by putting vertex data into textures and re-building the mesh every frame.
I tried something simpler: using a “tile-able” fluid-mesh and just moving it along a spline. This test is made in 3Ds Max. Need to checkout how to move meshes along splines in Unreal. Here the loop is very obvious but maybe with a mesh with less unique areas and forms it will be hidden better:

For creating the loopable geo I made a sim in houdini:

And this simualtion is made tileable like you do it with textures in photoshop. Basically I offset the same sim two times (one time upward and one tie downward):

And then cut out the piece in the middle. This piece is now tile-able. You can stick it on top of eachother without a seem or hole:

Now I stack 3 of those middle-meshes on top of eachother and save it out as FBX and move it along a spline (there are some weird stretching artifacts near the floor…anyway, it’s just a first test) 😃

In case you’ve knowledge about moving geo along splines in unreal, feel free to share tipps or links to good resources. I didn’t do any research about it yet but I’m sure it’s possible somehow. crossing fingers