When using the Can Blend feature of a camera cut, it isn’t lerping a real scene component between two poses, but using the blending features of the Player Camera Manager.
With blending enabled, UMovieSceneCameraCutTrackInstance::OnAnimate will call FCameraCutAnimator::AnimateBlendedCameraCut.
This will eventually call FCameraCutGameHandler::SetCameraCut which calls APlayerCameraManager::SetViewTarget.
In the transition params, bLockPreviousCamera is copied to bLockOutgoing.
At the end of a sequence UMovieSceneTrackInstance::Destroy → FPreAnimatedCameraCutTraits::RestorePreAnimatedValue will be called.
This will call APlayerCameraManager::SetViewTarget on the cached LastViewTarget (see FPreAnimatedCameraCutState).