alt Hacker NewsMicrosoft Research had an experimental OS project at one point that does just that with everything running in ring 0 in the same address space:
https://en.wikipedia.org/wiki/Singularity_(operating_system)
Managed code, the properties of their C# derived programming language, static analysis and verification were used rather than hardware exception handling.
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alnwlsn • yesterday at 12:24 PM
I think TempleOS also worked like this, though its certainly better known for its "other" features.
edit: I missed it was linked on the above page
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Fil-C vs CHERI vs SeL4 vs YOLO
I think hardware protection is usually easier to sell but it isn't when it is slower or more expensive than the alternative.