Answer: Yes
However there are some steps to follow for it to work properly.
And it is easier then it looks.
Run CMD as administrator(even if you are already logged in as one) type or copy and paste:
sc create "Ultralight" binpath= "C:\PcCompanion\Ultralight.exe"Press enter and you should see servicecreated successfully.
Go to Computer management and then services
Scroll down to Ultralite right click then click on properties and change the manual start to Auto
In the logon tab make sure it is set to local system account and the allow service to interact with desktop is checked
Click save.
Restart your PC to test it.
Note:
The Ultralight service will report as not running, if you try to start it from services it will report as failed. However it will still be running, just open your browser to the Ultra IP and port.
In fact Ultra will never display as running in the service area but we're not concerned about this here.
And Yes there are ways around that I'm told.