This MCG will morph your geometry to UV, much like in ZBrush. Please note this is a morpher not an unwrapper. You'll notice in the video that after I applied the mcg, the geo appears faceted. This is the 'ways' of MCGs, it breaks up the verts/normals. I didn't put an mcg Weld in there coz it's a bit slow and crash prone with high res geos. A Welder modifier is also slow. So the best solution I've found is to simply add an Edit Poly on top, select all verts and weld with a very small threshold, say 0.01, then also set your smooth groups here.
ps: if you plan to skinwrap a low-res object onto this flattened object, then don't do any welding so the verts count is consistent.
Ver 1.01.00: minor cleanup, took away Geo channel since you always want to see your geo in the viewport anyway, also added 1:1 XY Multiplier
Update: after the mcg is applied, your geo appears to be faceted, this because the normals are broken up and scattered a bit. This only happens if your geo was created in Max or you have applied a Reset Xform/collapse on it. So once your geo has been properly Resest Xform/collapsed, export it out as FBX or OBJ, import it back in, apply MorphToUV and it will not be faceted (the tris are still broken up tho!)...yeah...thanks very much Reset XForm !!!
Ver 1.02.00: added SwapYZ/Flip so that the flattened out geo can be either standing up facing the front or lying down on the ground, this is to help with whatever way you prefer to skinwrap or vertex paint.
Ver 1.03.00: added a Low Rez Pre Cut option for ppl that need a low rez version for skinwrapping. Pls see 2nd video for 'how to'. Pls note: ignore the part where I added a Welder modifier, that's totally uneeded as the Weld is already done inside the MCG, just collapse at 100%, silly me.