It is possible to set up your local MATLAB (Individual or Designated Computer) to access concurrent toolboxes. There is a slight difference with designated computer licenses which will be addressed below.
If you already have MATLAB installed locally with an individual/designated computer license, then in order to access concurrent toolboxes, you would need to obtain the network license file from your license administrator (typically called network.lic).
In the situation where the user does not currently have MATLAB installed with either a network license, or their own standalone license, then it would be recommended to run the installer twice for each license, as described above.
NOTE:
For designated computer licenses, when installing/activating MATLAB, the designated computer license is placed into the same directory as the network.lic. You would need to ensure the designated license file is first alphabetically compared with the network.lic. This is only an issue if the license files are renamed by the admins. The license file that comes first alphabetically in this particular instance is the license MATLAB will launch using, and toolboxes will be pulled from that license first.