How To Implement An "swinging arm" or "running in place" Locomotion System

Maybe have a look at the Oculus Examples on Github (you need to make a github account). You'll find a locomotion example project with all kinds of locomotion options - also one with swinging arms. The same principle can be applied to head movement I guess.

See here: https://github.com/Oculus-VR/UnrealEngine/tree/4.27/Samples/Oculus

You'll find a video describing the examples here https://www.youtube.com/watch?v=j9aqZIF5cDc&t=11s