No need to. Three excellent choices already exist.
Compared: .357 Mag. Henry Big Boy, Marlin 1894C and Uberti 1873 Rifles
I'm sure S&W has looked at these three and decided not to try to enter that market segment.
The Marlin is a modern appearance well made gun with a nice walnut stock for under $600. It would be hard to find anyone with something bad to say about a modern Marlin. They reflect over 100 years of lever gun expertise. Plus, .38 special ammo is cheap.
The Uberti is styled from the 1800's and over a grand. The case coloring looks great.
The Henry has the brass receiver, has mixed styling clues from both centuries and is $800-900