Yeah, this method will 100% work in your case. You just need to spawn your 100+ characters instead of adding them as components.
However, sorry for little sidetrack: Character class is quite heavy. If you are making RTS style game, or something with couple of houndreds of characters, it can turn out to be a performance issue.
It’s ok for prototyping as it’s easy to use with a lot of built-in systems, but as you move further into development consider using Pawns or just Actors, depending on functionalities you need.