I think they use different microcontrollers so it’d be a pretty big lift. The current sensor board uses an STM32F0, and the Pico uses an ESP32.
Something that would technically work but is overkill and a lot of hardware to accomplish this - Have the Pico running LEDs where space is tight, and let it subscribe to audio data from another standard V3 + Sensor board nearby. This is now possible with the latest firmware’s sync feature.