Now that you post that I really don't see the need or desire to impose both physical and magical armors. We had elemental and phys resists which worked fine. Oh no, said Larian, let's remove physical resistance for this new system of armors, but we're keeping magical resists though, because making new and interesting enchantments on gear is hard I guess.
They have dodge chance though, which protects against all regular attacks and most physical abilities (non-melee AOE abilities get a free pass). Yes OS1 had both dodge and armor, but dodge didn't protect against abilities like it does now.
I don't really LIKE dodge, I'm not a fan of heavy RNG mechanics if we can avoid them so I'd rather they REPLACE dodge with physical-resist, but as it is it does work to mitigate physical damage. In fact, you likely have more dodge chance than magic resists.
