You could get CEL with either solution but less likely with HFC. Keep in mind though as they age, they become slightly less effective and it may throw the CEL even if you didn't have one at first. You'll need a tune with either option to maximize gains - you wouldn't get much just bolting on. And HFCs may still smell but it's going to be much better than RTP. I run catless downpipes on my BMW and kept the OEM secondary cats. When I first start it up before the secondary warms up, the fumes are intense - it smells like I left a gas can open. After a few minutes, it gets much better. Still a hint of fuel but not much. That's how HFCs usually smell to me, a bit of gas but not bad.
To get rid of CEL you can always get O2 sensor extenders to move them out of the flow. Don't work perfectly but usually enough to keep the light off and pass emissions. I don't know if Uprev or other tunes can clear the CEL (on my BMW the tune clears the CEL).
FWIW, most RTPs don't sound good to me; there is rasp and drone. ART pipes would sound better, but they don't fit AWD if you are. HFCs are less raspy because the core knocks down the sound some.