Yep, you can just get the latest Dashlaunch and bring over the installer folder.
If you have an outdated launch.ini, it'll tell you to update it, just hit yes.
It all comes down to which Stealth Server you're using to go online with essentially.
But yes, there is always a chance of getting banned for modding online.
Don’t buy one if you’re just flashing one console. There’s no reason to spend $60+ unless you plan on flashing multiple consoles.
I’d recommend looking into a XK3Y install service, or send it to someone to flash the drive.