With the recent release of the Polybrute firmware, they demonstrated a fairly simple method for more refined handling of aftertouch. Specifically when one or more notes are pressed within a certain time interval they are considered a “playing event” (so playing a chord is considered “one event”). Then channel pressure is received, it applies to the notes in one of more playing event according to 4 possible algorithms: all notes, the highest note group, the lowest note group, or the last played note group (they could add “the first played note group”). This logic could be embedded in a note FX device turning channel pressure into poly aftertouch.
In fact you could extend this by having other modulation sources follow similar logic, possibly with an independently chosen algorithms: top note receives pitch bend, bottom note receives mod wheel; everything else receives aftertouch. You could also define the division with note ranges or splits. In this case it could be used even if your controller doesn’t have aftertouch. In this regard you could consider the note FX device an “MPE emulator”. What does everyone think about it?