Compose key (multi key) on physical keyboard

Is it possible to configure a key, say for example Right Alt, to work as the [Compose key](https://en.wikipedia.org/wiki/Compose_key) on a physical (Bluetooth/USB) keyboard? I'm used to a Compose key on my desktop computer, and having it on Android would be extremely useful. This question seems to have been asked almost a decade ago [here](https://android.stackexchange.com/questions/66510/compose-key-on-external-blutooth-connected-keyboard) , but I believe a lot has changed since then, so I hope that now there might be a way.