Not possible but I wonder if it where possible in Torque 3D, since its a newer engine.
It's possible on any engine, it just has to be coded. In fact, it's probably entirely possible for one of us to write a shader file for it.
The problem is that you have 50k on an average build, going up even over 300k for large builds. That's a lot of objects. Multiply them by 8, all visible, with your current settings. This is very, very generous because you'd probably have to do more than just render 8 shadow maps.