An Unreal Engine project holds all the contents of your game and application and ties everything together. It contains a number of folders and Assets on your disk, such as Blueprints, Materials, 3D Assets, animations, and so on.
The Content Browser inside the Unreal Editor uses the same file and folder structure as the Project folder on your disk.
The Content Browser mirrors the file and folder structure of the Unreal Engine project on disk. Click the image for full size.
Every Unreal Engine project has a .uproject file associated with it. The .uproject file is how you create, open, or save a project. You can create any number of different projects and work on them in parallel.
Working with Projects
To learn more about Unreal Engine projects, refer to the pages below.
Updating Projects to Unreal Engine 5
To learn how to upgrade projects created in Unreal Engine 4.2x to Unreal Engine 5, refer to the guide below.
Project Templates
Unreal Engine templates are starting points for different types of projects. Templates contain premade Assets, such as Mannequins that have their player input and animations already configured, or sample scenes for lighting studies and stylized renderings.
In addition to Unreal Engine's existing templates, you can convert any project to a custom template so you can reuse its Assets and configuration as needed.