In Google Calendar there is no way to have a Google Account as an attendee while also not having the event attached to that Google account's calendar.
Updates
You point out that event updates made by the owner will take priority over an attendee's updates.
What isn't noted in your question is that duplicating then deleting the event leaves you with the opposite problem. Event updates made by the owner will not update your duplicated event.
If concern for updates factors in to your calculus, concern for the loss of owner updates should take precedence. At the end of the day one should always have the event owner's current version.
Visual Noise
There are solutions for Chrome Desktop that visually merge duplicate events. For example, this Chrome extension Extensions > Event Merge for Google Calendar™ also on Github at imightbeamy/gcal-multical-event-merge.
Extensions > Event Merge for Google Calendar™
When using Google Calendar™ you may have one event on multiple calendars. For instance on your work and personal calendar, on your work calendar and your team's shared calendar, or on many co-work's calendars. These can clutter up your calendar and make it hard to read. This extension merges all those separate events into one event, and gives it stripes with all the individual calendars' colors.
I have used the extension for several years and it works very well and can be toggled on and off. Changing the title or address might cause it to see the events as different, but you can edit the descriptions.
The code is available on GitHub and the GNU GPL license allows modification. One could tweak the extension's code to ignore addresses, and other things.
Main Fork is Out of Date
The main fork hasn't been updated in many (many) years but that hasn't been a problem for me. Others who have run into various issues with the old version have been directed to HCAWN's fork that was updated a few months ago on Github HCAWN/gcal-multical-event-merge as well as Google Extensions > Cal Merge for Google Calendar™
