View modes (editor or game) calls ApplyViewMode afterwards.
See also EViewModeIndex.
Lighting Only
LightingOnlyOverrideflagVMI_LightingOnly
If true FEditorViewportClient::SetupViewForRendering will set DiffuseOverrideParameter and SpecularOverrideParameter on the FSceneView.
It will use UEngine LightingOnlyBrightness variable. Which is set using the LightingOnlyBrightness value in the ini file (default is R=0.3,G=0.3,B=0.3,A=1.0).
Those “override” variables are used deep down in render, found traces in SetupCommonViewUniformBufferParameters and VIEW_UNIFORM_BUFFER_MEMBER_EX in VIEW_UNIFORM_BUFFER_MEMBER_TABLE.
This is used in FViewUniformShaderParameters.