Sure, you could just pull out the existing hardware and replace it. Sometimes it’s easier to just start from scratch though.
If we really want custom hardware involved, the most economical solution would probably be a USB repeater that did the re-interpreting in hardware.
Took me a while to work out that the reason my pasted passwords would occasionally not work was the remapping of a couple of symbol keys. (I'm accustomed to a weird mashup of USA/UK layout, thanks mainly to Apple's non-standard 'UK' layout donating Americani?ms, but then useless prominent keys I swapped for something more helpful (backtick & pipe I think, off the top of my head, for things so useless that I literally never use them and don't know their names.))
I have thought about custom in-line hardware but that's honestly as complicated as QMK. Plus latency.
What I would love however is an inline monitor to see what keycodes I'm issuing. It gets...zany.
this is actually very simple to do with QMK if you have a board with an OLED display. it's also implemented in the default keymap for a bunch of the split ergo boards (Lily58 is one that has it)
Mac: Karabiner-Elements[3]
*nix: idk but should be plentiful ways
PC DOS: you’re probably out of luck
edit - instructable for doing exactly that: https://www.instructables.com/Making-a-powerful-programmable...