Is there a way to setup slave sites without using add-on domains in cPanel?

Can I basically create a new account on the server by itself, and still setup a slave site in this configuration?

Eg.

Account with Master site is in /home/masteruser/public_html/

Account setup as slave site in /home/slaveuser/public_html

If so, is there specific documentation for this method?

Thanks

If you are using different cPanel account, it is very probably that you will not have the permission to write in the other account.
So JMS will not be able to deploy the slave site into the other directory.

If you have you own dedicated server that manage several account with cPanel, you have to contact the administrator of your server to give the permission to write accross account and probably create group of users that will have permission to write in the other directories.