I love this idea. One workaround is to duplicate the Formative and include “2nd attempt” and “3rd attempt”, but hyperlink at the bottom of the original to access the 2nd attempt… and a new hyperlink at the bottom of the 2nd attempt to access the 3rd attempt. (If you link to the guest version of the Formative then it won’t be visible on the dashboard. THEN… you also have a record of each attempt and you can see progress or patterns in misconceptions.
You can choose to have the SAME versions (maybe change the problem order)… so you set the Formative to only show scores and not correct answers. OR… you can choose to alter each version… and then you can give the correct answers after submission so students can try to learn from their mistakes.
I do the latter version when I want students to be vested in learning and growth versus just 'guessing to get the right answer." In fact, I’m considering setting up my class this way for students who failed it the first time and need to repeat the class to get their credit.