Fun fact, I´ll try this today, as I never tried warm spare before...
https://documentation.meraki.com/MX/Deployment_Guides/MX_Warm_Spare_-_High_Availability_Pair
"Dashboard Configuration
To configure warm spare failover for an existing Dashboard network, navigate to the Security & SD-WAN > Monitor > Appliance status, and select Configure warm spare near the upper-left side of the page, below the device name. In the window that appears, select Enabled. Enter the serial number of the Secondary MX and select the desired Uplink IP configuration, then select Update to enable Warm Spare.
Use MX uplink IPs: When using this option, the current Active MX will use its distinct uplink IP or IPs when sending traffic out to the Internet. This option does not require additional public IPs for Internet-facing MXes, but also results in more disruptive failover because the source IP of outbound flows will change."
"Additionally, the following other considerations should be kept in mind:
- Both MXs must share the same number of uplinks. That is, if the Primary MX has dual uplinks, then the Spare must have dual uplinks as well.
- If a virtual IP is being used, then each uplink of the two MXs must share the same broadcast domain on the WAN side."
I am not sure if it works only with 1 public IP but shouldn´t know why, because a MX could be broken as well, without having a issue with the ISP.