I'm not gonna lie, it would be possible but very time consuming and expensive. And prepare to have a lot of lawyers on hand too!
It's not merely about re-hexing the graphics. As far as I remember SH4 and SH2 processors aren't backwards compatible at all, so you'd have to re-write most of the code just to make it work on a single processor. Let's not even mention the fact you'd have to reconfigure the entire code, and that's not simply a matter of compiling it with a dev kit! Which you don't have!