Couldn’t really find that information firsthand anywhere, so I turned to asking the UE Dev Assistant and this is what it said.
Furthermore, after insisting that the setup I have is well-managed and what it said are non-issues I got this response
Honestly, some of this seems at least a bit inaccurate, so I’m taking it with a grain of salt. Some of it makes sense, some not 
. After some fiddling through the settings I also found the option to disable uncontrolled changelists completely in the project settings:
This just made the whole category in the revision control menu go away. Haven’t tested it too much other than that, so it may or may not create other issues down the line.