In the case of a pipe component not the constructions requirement the respective pipe code fill, then my opinion is the following :
1. Calculate the local bending stiffnesses(In/Outplane)with Finite Element
2. Calculate the force and moments with a pipe calculation programm under consideration of a local bending stiffnesses. Be mindful of the pipe flexibilitätsfactors, so you have the correct local bending stiffnesses
3. Calculate with the force and moments and pressure the stresses with FE
4. Estimation the stress categorie Pm,Pl,Pb,Q,F . The stress limits from the pipe equation are not acceptable. Use the stress limits for the stress catogerie from ASME Code.