Great question — answering as the UphillTech team:
First of all: great idea :) The configuration you want will work fine. You won't have a problem with the registration as long as both copies are on the same hardware. The registration is done online before you finish the installation, or after OS installation if you don't happen to have internet at the time. This is why you can reinstall an OEM windows on the same machine countless times. Your hardware specs are sent to Microsoft upon online activation. HOWEVER: I am not sure if Microsoft allows this type of OS usage, you might be violating the EULA, so it might be illegal.
Full answer by Kaurin: https://superuser.stackexchange.com/a/394989 (CC BY-SA 4.0).
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