Well I guess it depends. Is your goal to get as close to Atmos without going all the way? The short answer is no. Atmos is atmos, no matter what. Putting speakers where there supposed to go without the processing won’t do the job. Conversely having the processing with compromised speaker placement won’t do the job either, but it’s a lot better. IMO, half a$$ed Atmos is better than not having Atmos capability.
So I guess, my question is what are your goals.
You can still get an Atmos receiver, and use something like SVS prime elevation speakers where you won’t have to mess with the ceiling. To me this is less than ideal, but would still be way better than PLIIx or PLIIZ, and I’ve seen plenty of people enjoying Atmos with the prime elevation speakers. You can also use “Atmos enabled” speakers that bounce sound off the ceiling. These are obviously the least desirable but can be installed very easily. However you’ll need to take the time to find the appropriate angle to hit the LP correctly or much of the effects will be lost. Personally I don’t see a big deal with going into the ceiling, but everyone has their line in the sand.