Think you should be fine here as long as you can come up with substantive enough areas that you want to explore in this topic : what's different about the pipeline? do the rendering constraints of game engines make things too difficult from an asset creation perspective to make it worth it? are certain engines more inherently suited to this sort of thing than others?
So yeah, there's a ton of stuff you can explore in that field, it's just finding a way of presenting it as an academically interesting topic that you can explore in a fairly in depth way rather that 'I want to make building in UDK' or w/e.