Getting around non-multisite issue

This plugin is, by far, the most essential one on my site, and I use very few plugins.

I recently considered switching my site to WP multisite, but then realized that this plugin would be the only one that’s not multisite compatible.

This might be more of a WordPress Multisite question, but it’s this plugin that I care about so I’ll try asking it here:

If I convert to WP Multisite, I understand that I can’t use a single installation of this plugin on both sites. However, would I be able to use separate installations of this plugin on both sites?

I have never used multisite before, so I’m not familiar with how it works, so before I get over my head, I wanted to get some advice on this topic first.

Thanks!