The change will happen sometime next year and will charge some users on a per-seat model, similar to Photoshop pricing.
Game developers using Unreal Engine won’t be affected and will continue to pay for a license based on a royalty model. However, users in industries like film or automotive will be moved to per-seat pricing, meaning they’ll be charged for the subscription the same way someone might pay for Photoshop.
https://www.theverge.com/2023/10/5/23905082/epic-unreal-engine-pricing-change-film-automotive