My response was tongue in cheek but seriously I recommend budgeting a VM or Raspberry PI to run their controller software which offers the most configuration options.
I mistakenly thought the cloud key ran a lesser version of unifi than the distribution found on their website, however googling around implies it's the same version. So I suppose budget for a cloud key or a pi. A raspberry Pi 3 is 64 bit, runs Fedora natively and can serve up other functions beyond the key. So I lean towards the Pi but if they're functionally equivalent I suppose it's down to personal preference.
I tried putting it into a docker container, but in the end didn't want to deal with the complexity -- bought a key. Does the VM/Raspberry PI get you anything the key doesn't?
A Raspberry Pi probably won't do. The controller requires MongoDB which itself is no longer supports the 32 bit architecture which most RPis are running on.
https://www.ubnt.com/download/unifi/