The 4050 waiver is a piece of paper that enables you to fly the C560 and others requiring 2 pilots part 25 with only one pilot.

If you are only flying the plane 200 hours over 2 years you may want to consider your own personal comfort level in the airplane. The Ultra has some nasty stall characteristics vs the Encore but is still a very simple straight wing plane.

The 4050 will require your initial check to be flown in the actual airplane and last check was very expensive and limited to FlightSafety and Simuflight as your only training outlets.

The first 100 hours had some restrictions on approach minimums. Coverage amounts are approachable at 50M. With new SP rating and low time you will probably pay in premiums for all your risk factors and coverage amounts.

PM me if you need more but that is what I recall from memory.