Porting 3D models is quite straightforward, IIRC Ducimus enabled all the harbours of SH3 almost by dropping the files into Sh4. Conversion of units isn't difficult either, and the campaign is already very well done by lurker in his "Operation Monsoon" mod, which also added lots of UBoats (Including working minelayers), etc.
You also have already a great environment mod, and the only big difficulty -which was the interface- was overcomed by karamazovnew, who provided an excellent, usable and very professional and fitting GUI.
Quite frankly, adding all the HAHD stuff to the existing combo and polishing the game to the end would be friggin awesome, and probably quite superior to SH5. Heck ... what are we waiting for?

Let the conversion begin at once