Yes, of course you could do something like that. But it would definitely take some coding. Since UE4 is open source, if someone wants to spend the time then it’s open for them to do whatever they want.
That would be a lot of work though, getting all of those variables, and then you’d have to make some system to collapse things into a standard asset, like convert the custom textures to a new texture map and things like that. Otherwise each character would take too much memory to run, and they’d take a long time to load.