One of the first things you will need to think about when starting to develop any Unreal Enging 4 (UE4) powered VR experience to be used with SteamVR is deciding whether the experience will be a seated one or a standing one. In the following How - To we will take a look at how to setup your UE4 projects VR camera for a standing SteamVR experience.
Steps
Below you will find instructions setting up a Pawn to work with a standing SteamVR experience.
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First, open up or create a new Pawn Blueprint and then go to the Component section of the Viewport tab. From there add the following two components with the following names, making sure that the VRCamera is a child of VRCameraRoot:
Component Name Value Scene VRCameraRoot Camera VRCamera 
No matter what VR HMD you are using, this is the Epic recommended way to set up a VR camera as it allows you to offset the position of the camera without having to move the actual camera.
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Next, open up the Pawn Blueprint if not already open and in the Event Graph drag off the Event Begin Play node to show the Executable Actions list. In the list search for the Set Tracking Origin node and click on it to add it to the Event Graph.
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The Set Tracking Origin node has two options, Floor Level and Eye Level. For a standing experience, you will need to leave the Origin of the Set Tracking Origin node to the default of Floor Level.
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Drag the Pawn Blueprint from the Content Browser to a level, making sure that it is placed at 0,0,0 in the level.
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Select the Pawn Blueprint that was placed in the level and in the Details panel under the Pawn setting, set the Auto Possess Player from Disabled to Player 0.
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End Result
Finally, go to the Main Toolbar and change the Play Mode to VR Preview and then press the Play button. When you put your HTC Vive HMD on and view the level while sitting down, you should see something similar to the following video:
UE4 Project Downloads
Below you will find a link to where you can download the UE4 project that was used to create this example.