Hi Bud - so let's say you have 3 ArcGIS Pro users all opening the same shared *.aprx that's on a network drive. The first to open the *.aprx gets "save" permission on the *.aprx. Users 2 and 3 then open the *.aprx. As soon as they do, the name of the project (top center) has the phrase "Read-only" appended to the project name. They cannot save what they add/change/modify in the project like new maps, new layouts and such.
BUT with the data...well that's different. You mentioned you're using an Oracle RDBMS, versioned with the move to base option for your FC's. All users can edit the eGDB FC's, do traditional versioning, save on child versions of DEFAULT, rec/post, etc. That's fine. Where things can get wonky if User 2 wants to save their *.aprx after saving their edits. Well, they can't. Their *.aprx is read-only. Same for User 3. But User 2 and 3 can do all their edits, then when they're done, close ArcGIS Pro.