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The internal magazine component is very similar in structure to a magazine blueprint (whereas the external magazine component merely defines the interface to magazines). It represents the capacity of some weapons to load multiple bullets directly into the weapon in lieu of bullets being fed by an external magazine.
The M24 sniper rifle is one example of a weapon having an internal magazine.
For a shotgun, you may want/need to use a tube magazine instead. See GBTubeMagComponent.
The most useful/pertinent properties of the internal magazine component are listed below:
Round Type
This defines the class of projectile (the caliber) accepted by the magazine
Capacity
This defines how many bullets can be loaded into the weapon.
Base Bullet Item Class
This is the default projectile class that is loaded. Other projectile types can be used so long as they are of the correct round type and a subclass/child class of the base bullet item class.
Start Plus One
Weapon starts with a round chambered as well as a full mag.
Stay Open on Last Round
The bolt stays open after the last round is fired.
Is Firing from Open Bolt
If true, a round does not need to be chambered to fire.
You may need to use a different magazine types depending on the type of weapon:
External magazine ('magwell'): GBExternalMagazineComponent (for the vast majority of weapons)
Tube magazine: GBTubeMagComponent (for shotguns and suchlike)