4.25 and 4.26 update notes:

FEB 2021 update

• New Feature: Separate option, you can take an RGBA map and render out channels into separate textures.

JUNE 2021 update

• Bug Fix: There was an error with separator "file path" where you can't bake even if input file path is true.
• New Feature: Texture Compression selection, you can choose your desired texture compression from a drop down menu before you bake textures.

RGB Wizard is an editor blueprint utility and have two functionality. You can create RGB masks from your albedo textures and you can add 3 textures on RGB channels and merge them together as a single texture. There are tons of use-cases of this tool even with two functionalities. For example; you can combine megascans textures like roughness, metal and ambient together to optimize your project.

If you have our Virtual Texture Environment asset then you can use the master landscape material from there and convert your textures to rgb mask with this tool to convert them into customizable assets just like in our asset pack. Also you can combine roughness metallic and specular maps into one texture to optimize memory and harddisk space.