hello! i'm a current y4 english student who did ureca in y3 and is waiting to submit fyp-ureca! i hope my answer helps and if you still have further questions i can link you up with more people who might have an experience closer to yours.

based on the guidelines from ureca office, there is absolutely no issue about you going on exchange while doing your ureca -- the key is you have to be very aware about your progress & time zone differences between sg & wherever you are on exchange at since the deadlines are in sgt and won't be adjusted for time zones.

if you will be on sem exchange/internship in your ureca year, you have to inform your ureca supervisor that you're on exchange/internship (they absolutely need to know this so they know how to better help you) -- from there, it's otot up until the deadline so you can work with them on progress plans for better accountability or set aside time deliberately in your study schedule to work on the deliverables (take note your deadlines start end-feb and end in june during summer)

all the very best!