It may be possible in theory, but it would mean rethinking all the four different specialist emulsion groups (color and b&w, neg and reversal, each designed to be best for their particular purposes), plus all the process chemicals and equipment used.
Also, most "universal" processes in photography (and more generally) are a compromise. As a schoolboy, I started home processing using the old Johnsons "Universol" developer (a bottled MQ concentrate, different dilutions for film and paper). It worked quite well for a beginner, but, with experience, I later realised that it wasn't really the best for any one purpose, and better results could be obtained by choosing the various specialist developers designed for different films and paper.