It would probably work entirely fine with a MIDI Host like the FH1 - it’s just spitting continuous controllers out, and you can modify which CCs in software. I’m afraid I don’t know how the FH-1 itself works in detail to say more.
I would note that if you want to build something to roughly double the output of 16 jack sockets (rather than very precisely double it like a precision adder), you’re looking at about $2 of op-amps (four chips), a few bucks of passive components, and then bazillions of jacks and a board.
The reason we stick to 0-5V is because we’re using USB for our power, and the point of the CV outs is not ‘the best CV outs ever’; it is just simple and better than nothing, as previously mentioned.