Question about Listen Server Capacity and Performance

I have a question about using a listen server only vs setting up a dedicated server model. I am in development of an FPS game with multiplayer support, and I wanted to inquire the community about their performance experience with using a listen server. I wanted to allow for a player limit of around 50 and I am betting this is far too much overhead without the use of a dedicated server implementation.

Does anyone have any experience using a listen server with high amounts of players connected to it? The most I have seen in UE4 is around 10-20 on a listen server, and I do not currently have the setup to test any more than that. Are 50 players in an FPS setting plausible at all without a dedicated server? I have never seen any empirical data about network/processing load besides use of a dedicated model in other game engines.

I know recently “For Honor” used a p2p setup that had some issues dealing with fewer players, but I also see that UE4’s listen server isn’t exactly p2p in its connectivity. So does anyone know, is it possible to do?