Creating and compiling levels at runtime

Question

I'm trying to create big level at runtime and not sure where to start or is it even possible.

I want at least to be able to generate big terrain(with some 2d noise function for example) and place some premade assets into the level. And I want to use cool features of UE5 like world partition and nanite, but, as far as I understand, they are only available for assets that are known at compile time, so I cannot use procedural mesh for terrain and everything else. So the question I have is this: can I procedurally create all of the data necessary for the level, then compile it and load, all at runtime? And if I can, then how? I'm ok with this process being slow, for now it would be great just to get it working.

I tried searching the internet, but didn't manage to find any info on this. I'm new to Unreal though, so might have missed something obvious