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Edit: It looks like Apple is not removing all Unreal Engine games. See Brandon Smith's comment below.

Is this confirmed? Apple would be removing PUBG Mobile (#5 in Strategy, millions in revenue - which Apple presumably gets 30%) which uses unreal Engine 4.

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Without a developer account, EPIC can't update Unreal Engine on iOS?

Epic is misleading a bit...

Epic is claiming that without access to developer tools, it cannot properly develop the Unreal Engine for other parties to develop against.

Reading the legal document, it does not appear Apps that use Unreal Engine are threatened to be removed. Only that Epic cannot improve the Unreal Engine.

Misleading is something certain game companies are very good at

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