I never even looked at UE4, but from what I read at different places, it seems to be based on classes and inheritance. So you got a base class with some properties, another classes inheriting from it adding some more properties and so on.
But they could still provide a way to also attach components like a physics body or something. Also it could make sense to have a special transform object holding the transformations, so you would still have something like:
Code:
void MyClass::Update(float delta)
{
    transform.position.x += delta;
}

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