Scrap project workflow under UGS

It’s sometimes convenient to create a new project to do some scrap work in Blueprints without committing anything to perforce. This is easy enough to do with an installed build of Unreal, but I’d like to know how this is handled when the engine is distributed via UGS.

We could have a blank project as a native project in its own depot. The stream can be setup to be read-only so that users can work on it locally, but can’t submit changes to P4. Is this the standard approach?