GPU Skinning in #UnrealEngine immediately allocates vertex buffers for all LODs when using morphs.
Today I learned, that it is actually rather easy to allocate those buffers lazily (by modifying FSkeletalMeshObjectGPUSkin::InitMorphResources()). That way, skeletal mesh components that never take a big amount of screenspace can save a bit of VRAM.
We might be able to benefit form this in one of our projects, as many characters are never close to the camera.