Cool concept, but I found it really challenging to know what the correct cloud was that I needed to hit and the movement mechanics felt very unforgiving for any slightly quick/slow reaction time. For the latter problem, I would suggest implementing input buffering and coyote time (standard player assistance features for platformers, which I would consider this to be) as well as making it so pressing space outside of a cloud does not freeze your horizontal movement. For the former, probably just clearer pathing/level design would help things (I do see you added a guidance light feature, but it was too quick to persist in my mind). Good work overall and especially for a 2D game in Unreal!
I should also note that I encountered a bug in level 1 where I did not reach the height from the soap bubble to the last cloud, so I landed instead on the terrain to the right side and managed to avoid the rising water. I was basically softlocked at that point though so I did have to jump off and die on the ground, but it felt like an area I shouldn't have been able to access.