In the abstract, I think a woman could be capable of fielding the pitcher position competently enough to make a team. Maybe guys could bunt their way on. But bunting a knuckleball is extremely difficult as well. Also, we assuming there isn't some new pitch that could be created for a woman's arm action and different finger dexterity.
There are plenty of male pitchers who don't/can't field the position very well.
Perhaps a woman has already struck out two hall of famers.
https://sabr.org/journal/article/the-mystery-of-jackie-mitchell-and-babe-ruth/Joe Niekro taught a girl the knuckleball
https://www.mlb.com/news/knuckleballer-chelsea-baker-is-the-real-deal/c-70199388https://www.mlb.com/amp/news/eri-yoshida-returning-to-play-in-ny-indy-league.htmlA knuckleballer out of Japan has made some noise in independent leagues.
A trio of women had some success in the Negro Leagues.
https://baseballhall.org/discover/baseball-history/toni-stone-connie-morgan-and-mamie-johnson-blazed-trail-for-women-in-negro-leaguesI do think there are some biological factors that work against this happening. So the woman would likely be younger (early twenties) but I think it is theoretically possible for a woman to become good enough at the knuckleball to become a bullpen arm for an MLB team.
I think for it to happen, you would need something like Driveline creating a program for this purpose and applying it to girls across the country in order to have enough candidates and training to make it happen.
Then you would need a person who would be willing to put in the work knowing that failure is almost the certain outcome, but still dedicating themselves fully. Basically, the female Trevor Bauer. Some who is willing to make themselves into a pitcher at the expense of everything else in life. Probably have the same crash out as well.
I think biggest barrier is the lack of coaching/training/infrastructure to facilitate someone getting there.