A word of caution. If you spawn a prop from the original V4 mesh my understanding is that it is a derived object and its redistribution is restricted by the original V4 user license. Again this is my understanding, for a definitive answer check with DAZ.

What you do for your own use on your own computer is entirely up to you.

The Hair Designer has a tool that will make skull caps for pretty much any figure with a head. The Hair Designer license enables you to redistribute the result.

Hope this helps.