However, there can be some serious legal ramifications down the road by doing so. Larian Studios have already pushed (very bravely) the limits to the extreme with optional in-game child killing. Now imagine if the in-game Halflings and Gnomes where "well proportioned" (child-like) and how media (narrow-minded reviewers and players) would react with that in combination with the "explicit romances".
From a personal standpoint, I find the current Halflings (and Gnomes) to be "grotesque/hideous". I would rather play a Goblin, and hope Larian Studios officially down the road implement that. Until then: