If dev time was unlimited and costed no time, why not.

This game doesn't have an adjustable body to armour slider that a lot of other games use which effectively just stretch things out and hide the muscle or fat under a layer anyway. (which this game has to a minor extent)

To do as you suggest would require every piece of armour to re-made with different proportions in mind and would increase the costs and time of every new patch with an equippable item in it.

It's just not worth it.