Rotate an object around another
// here in this example we are running this code on tick
// RelativeLocation is 100, 0, 0 in this example.
Rotation += FRotator(0, 1, 0);
const FVector CenterLocation = GetActorLocation();
RotatedLocation = CenterLocation + Rotation.RotateVector(RelativeLocation);
In red its CenterLocation
and in green RotatedLocation
Transform world/local conversion
World to local
Use Transform XXX
Local to world
use Inverse Transform XXX