I experimented with this for a few months after my pellet ran out. It's not really possible to get enough prog to mirror the prog/estrogen distribution in a cis woman, and the spikes have massive side effects. I had severe mood swings, developed bad acne, and lost most of my hair volume.

*If* you do it be very careful about maintaining a baseline estrogen level during the troughs, and you want enough prog shots to use at least one every day during the low-e part of the cycle (and take caps for the high-e part)