Using Scene Capture Component 2D instead of the Camera Component for the Player. A good idea or no?

I have ran into some limitations with the Camera Component, one of which is the inability to blacklist (or whitelist) certain actors from being rendered. For example, I wish to render certain meshes to a Scene Capture Component for making stencil buffers for certain materials. Obviously it would be bad for these objects to appear in the main Camera. I’ve tried the method of setting the objects as an owner in real-time and setting OwnerNoSee to true, but it is such a convoluted workaround (And doesn’t work for multiple cameras since that would constitute multiple owners which isn’t possible afaik.) and I’d rather take advantage of Scene Capture Component 2D’s blacklist option.

As far as I know a Camera Component is still needed to render the scene, so I was thinking of putting it somewhere obscure in my levels and have it face a quad that renders the Texture Render Target used by the player’s Scene Capture Component used for rendering the actual 3D scene (separate from the Scene Capture Component used for rendering stencil maps).

Does this sound like a good workaround or would it be far too expensive? I hear that Scene Capture Components can be costly. I can disable post processing for the Camera if that helps. What do you think?

Edit: I managed to get it to work perfectly! Note: you will need to change the Anti-Aliasing technique to FXAA because the default technique causes smudging effects with the texture render target.