Is it possible to adjust equipped items to 2 sockets?

I can equip weapons, shields, helmets and things like bracers. Though most shoe models cover the calf and foot bone/sockets, thus causing the socketed shoe models to overlap either the foot or calf mesh. Is there a way similar to the Observe Bone node for bones, to adjust maybe a skeletal mesh? Also i guess this wont work with something like NVIDIA’s APEX for animated clothing, since these meshes are separated and are socketed at runtime.