Yes it could be made to work but not without a lot of difficulty, Apart from the need to spin the motor, you need to have slip rings or something to get power to the motor.Most other arrangements have the mechanical equivalent of slip rings ( thrust bearings)and this seems to be a more logical option.
Active pitch control introduces a lot of extra things and increases the likelyhood of failure, with good design and good maintenance you can make it work but spinning motors and slip rings would not be my approach.
Flux