It is possible, but you'll have to edit the .pex files and esp records to make it a reality.
Personally speaking, remaking the entire mod from scratch with references from the original to house support from F4SE without the dependency of inventory items to trigger the powers seems to be the only viable way right now.
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I've been thinking about making a F4SE version without the requirements of rings and favorite slots, but hotkeys, similar to V.A.F.S./Bullet time.
Personally speaking, remaking the entire mod from scratch with references from the original to house support from F4SE without the dependency of inventory items to trigger the powers seems to be the only viable way right now.