Preview video: https://www.youtube.com/watch?v=ll1-V-Q6390

(Major update to version 1.2, see change log.)

This is a performant, blueprint + material system which converts solid, static meshes into liquid filled vessels which realistically react to physics interaction, movement, and lighting. Unlike most other solutions this uses lit, subsurface material domain with light transmission effects and specular highlights on glass and all the other cool features you might expect. Additionally there are a bunch of functions to enable fake transparency and fake clear coat emulation, however with some limitations. The liquid surface is fully UV mapped.

As of 1.2 there is support for unique textures, still utilizing a single mesh. This allows custom textured assets to be liquid-filled. A packed texture is used for everything except Color and Normal. Uniquely textured assets only require 3 textures in total. Liquid area is designated by the alpha channel as opacity, where 1 is solid and 0 is liquid/glass.

The material and blueprint are very accessible to be built upon. Everything is neat and organized and commented. The illusion is further enhanced with sloshing and glass hit sound effects.

There are many unlisted features which contribute to the effect. Watch the videos to see for yourself, and enjoy.

Please note:
To use with your own meshes you need to create a linear color curve asset for each new bottle shape, one for volume retention (Red channel) and one for diameter (rough bottle shape cross section, Green channel). Both normalized. Look at the included curve assets and it will be immediately clear what to do.
Also if you plan on having hundreds of simulated vessels in the scene, it may impact performance.