If we could remodel armor then people would be doing it, you are not the only one who wants a more "realistic" approach to armor... though for me it's the absurd *male* character models, the helmets, the giant weapons. Alas, we can not, we can only swap existing models, not integrate new dynamic meshes. Larian used Rad Game Tools, which means you can change any static mesh with the tools we have available, but nothing in any way animated via bones/IK (Armor, Character Models, Hair, Monsters, Weapons)
This makes me sad ;(