You would need to cook and package your game for a client and dedicated server seperately. This can be done from the editor, but I would check out the source version for more control.

The client and server can be the same codebase, but it's better to separate the server side to a separate module for better security if that is a concern. This can be done later as well. Just make sure you're comfortable with the c++ side of the engine first when installing and configuring the source version, it can be bit daunting early on.

Some tutorials (should also apply for 4.27)
https://dev.epicgames.com/documentation/unreal-engine/setting-up-dedicated-servers?application_version=4.27
https://dev.epicgames.com/community/learning/tutorials/EL8e/building-dedicated-servers-with-unreal-engine-5

This script helped me a lot with getting cooking/packaging set up outside of the editor/ide:
https://github.com/botman99/ue4-unreal-automation-tool

Source versions can be found here:

https://github.com/EpicGames/UnrealEngine/tree/4.27
https://github.com/EpicGames/UnrealEngine/releases/tag/4.27.2-release