The young Magpies, who reached the 2019 Premier League final before suffering a 1-0 defeat against Everton, take on City's second-string at Whitley Park, aiming to maintain their hopes of qualifying for the last 16 with a victory in Group G.
After losing their opening group game away at Watford last month (a 2-0 defeat), Scott - who signed his first professional contract with his boyhood club in June - believes United's youngsters can take belief from their recent encounter against Birmingham, a 4-0 away thrashing in August.
"It's a very important game," the Gateshead-born 19-year-old told nufc.co.uk. "We lost our first game in the group (against Watford) but hopefully we can win the next one and give ourselves a strong chance of being able to go through to the knockout stages.
"We've beaten them already this season so we know we can do it again. That will give us a boost heading into the game and trying to get the points to progress in the cup.
"Beating Birmingham 4-0 away from home does give the squad a lot of confidence and all the lads are looking forward to it.
"We reached the cup final a couple of years ago. If it's been done before, we can do it again. If we all come together, we know we can go far in the competition.
"These games give us experience. The league games are important for us but so are the cup matches.
Newcastle's under-21 side were involved in Papa John's Trophy action on Tuesday night, exiting the competition at the group stages with a game to spare following a 2-0 defeat against Harrogate Town.
Scott, who played the full 90 minutes of the Northern Group H encounter, admitted it was a challenging evening but a one the side could take plenty of valuable experience from.
"It was a good game, a good experience, against a League Two team," the versatile left-back added. "The lads dug in, playing nice football, but there were sloppy mistakes from individuals but they can be easily fixed so we're ready for Monday night.
"They're big and physical, which isn't what we usually come up against in the league so it's all really important experience for the young lads.
"A lot of players have signed their first professional deals and it's a step up from under-18s football. It is more demanding and physical but I think those are dealing with it well, taking that next step."
Supporters will be able to attend Monday's Premier League Cup encounter at Whitley Park, with season ticket holders gaining free admission otherwise it's £3 for adults and £1 concessions.
