This is one benefit of Dynon's implementation of ADS-B. Rather than using a UAT, Dynon uses a Mode-S/ES transponder for ADSB Out. The transponder can be disabled (standby), while still receiving traffic on the ADSB 472.
In my new build, however, I have chosen to use an uAvionix tailBeaconX to be compliant with satellite-based ADS-B in Canada. Since the SkyView does not (yet) support the tailBeaconX, I was forced (encouraged) to design my own controller. These have been flying successfully for a few years now. In formation, the MODE button is push to enter/exit Standby.
The other function I added was a flip-flop mode between two codes. This is very handy, since outside of ATC, lead should be squawking 1203, and eveyone in the formation should be squawking their assigned codes when under ATC. As far as I know, this feature is unique in the industry, and it sure makes formation work safer— rather heads down entering codes, you keep eyes up following your lead.
FMI
www.huvver.tech and
www.makerplane.org .