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So, here's my proposed solution:
Give the players unlimited reactions.
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Worried that Tav might use an AOO instead of a Feather Fall? Well, worry not. Just do both.
Having multiple reactions in one turn isn't going to break the game. And if it shuts everyone up then I'm all for it, lol.
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Yes, there's still a concern about using a spell slot on a weak goblin instead of a tough bug bear, but whatever. Maybe tweak Hellish Rebuke so it works for a certain number of turns, harming everyone who hits you during that time frame. Or just deal with it. Again, whatever.
And in the process move even further from 5e rules?
If anything BG3 needs to be closer to 5e rules, rather than deviate even more than it already does. I'd rather deal with the horrible implementation we have now, than having stuff like unlimited (or an increased number of) reactions.