Advice needed about ungraded classes / internship credit in undergrad

[wheel_lizard]

I am an undergraduate senior who expects to gets a master’s degree in public policy or public administration at some point. (There’s also a small chance I’ll go to law school or get an MPH instead.)

For my final semester, I am thinking of taking two regular classes for my major, one half-semester ungraded class (i.e. it can only be marked “satisfactory” or “unsatisfactory”), and an ungraded credit-bearing internship. Would this look bad to admissions officers at master’s programs, particularly for public policy / public administration?

For context, I have a very high GPA but I do already have several ungraded items on my transcript already: independent study projects, RAships for academic credit, and one other ungraded class. I have not opted to take any classes pass/fail, but I’m not sure if admissions officers can really tell the difference between that and ungraded independent study / RAship / internship, etc.