I was having the same problem.  This video fixed it for me.  I was missing the CC Shaders folder install in the project.
THANKS!!!

Where is the correct location?

Where is the correct location?

I don't know if you are still looking for an answer but I just saw when I was digging around for another issue. It's possible you are missing a step. Try doing it in this order: [1.] Create iClone origin, it is found in the iClone icon at the top of Unreal, look for "Create origin" in the drop down. Drag the new origin point to be sitting flush on your ground surface. [2.] In iClone transfer the character using the Unreal Live Link. [3.] The character will appear without materials linked in Unreal so select the character mesh in the content browser and click the CC set up icon at the top of the Unreal window (next to the iClone icon), select HQ shader. That should link all of your materials automatically.

[quote]vuides (1/23/2021)

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I found a solution . you have to copy the two folders; live link; and Auto setup; and stick them to the places indicated

Can you please screenshot I really need your help on this. Need just a little more help on how to do this. plzzzzz

can you please screenshot exactly where? Im completely lost and need your help. 

Hopefully someone sees this because I'm having the same problem and can't find any answers. I'm not sure I understand the fix, is there any chance someone can walk me through it?

Isn't it great that it takes the community a year to find a solution, meanwhile CRICKETS from Reallusion... After they've taken most of us for more than a grand. Thanks Reallusion. I hope you're as happy about MetaHuman as I am, lolol

I found a solution . you have to copy the two folders; live link; and Auto setup; and stick them to the places indicated