Few of the aftermarket M1 Carbine clones were actually designed to work I well with GI parts.
I have never had one of these aftermarket based M1 Carbines so can't comment on the Universal receiver, but expect that the resulting firearm would have considerably less value than a GI receiver based carbine. It's probably so much less that your time and effort would not be worth the investment. Here's an example - auction valued at about $405 after 16 bids.
https://www.gunbroker.com/item/1112925299
Genuine GI based carbines are 3x to 4x that.
__________________

Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.