In Unreal's Material Layer system, can I create a Material Layer that adjusts the saturation of the layers below?

Citation needed.

I’m using the Red channel of the top layer’s base color to control the saturation in order to leave the other channels free for other controls. After doing RGBtoHSV, the Green channel of that result is the Saturation channel, so multiplying R of the top layer by G of the lower layer’s HSV conversion adjusts the Saturation, and then it has to be re-composed into a Vector3, R(H) append-> G(S) ->append B(V) before converting back to the RGB colorspace.