It looks like you may be able to edit video FINE on the MacBook Pro 2018.
Although it has a less powerful processor than the MacBook Pro, a new video by Kraig Adams on YouTube has demonstrated that editing 4K with Apple's Final Cut Pro video software is possible.
He says that he managed to edit his 4K content very well on the MBP 2018, with the occasional hang in the timeline and when moving elements around. The video also showed that the MacBook Pro 2018 took 7 minutes to render his video whereas the less powerful Air took 15 minutes.
"I edited as usual, expect for slight delays in render speeds and thumbnail generation.
... render times are a little slower, I'm sure export will be a little slower with this"
Adams claims he may even switch to the Air 2018 as it's so capable of editing video. In that case, editing 1080/ Full HD footage will be fine, as the MacBook Air can even edit 4K without lots of hitches.
However, if you are on a wider budget, the MacBook Pro 2018 13" would be a better option, if you are looking to edit photo and video.