If they make it a lot like Darktide, then it would work just fine. It’s the latest spiritual successor to the Left for Dead style FPS gameplay now and is set is the satirical laden 40K fascist future that’s sillier and you as imperial mercs. That’s about as close as you can get to Starship Troopers in mechanics, you would just have to update the world and enemies and loop to satisfy the experience with the differing sci-if worlds.
Obviously a co-op looter-shooter still wouldn’t be 1 to 1 but without some kind of Edge of Tomorrow or Akumetsu style story it can’t be an FPS and cannon fodder.
If it was entirely up to me, I would look at darkest dungeon for gameplay loop inspirations for the right feel since that game is the best cannon fodder game I can think of—but it’s built around sending teams out on episodic missions and RPG leveling and whatever. But that purposeful feel was also a weakness when a character died that you got fully leveled it sucked because you had to grind them up again, and when you encourage safe and passive choices in dangerous games it saps the fun and thrills of the dangerous game away.