I think you'd struggle with 26" wheels. Main issue being smaller wheels drop the BB height. IIRC 42c 650b tires are about the same height as 25c 700c tires, you'd presumably need another 20 cm of volume to make up the height difference for 26" wheels which you'll almost certainly not get enough width for between chainstays and fork legs
Might not be an issue for gravel riding but would probably be a big issue for any actual MTB-ing.
You might be okay with the freehub if you go with a MTB cassette as Shimano 11 speed cassettes fit onto old 8/9/10 speed freehubs, but you'd also need a MTB derailleur to clear that so then you're looking at mixing and matching groupsets
Well, I rode 650b with 2.1 on my Wolverine during Gravelaide yesterday, and I had a couple of moments where the cranks scraped the rocks below. So not a suggested combo.
I think you'd struggle with 26" wheels. Main issue being smaller wheels drop the BB height. IIRC 42c 650b tires are about the same height as 25c 700c tires, you'd presumably need another 20 cm of volume to make up the height difference for 26" wheels which you'll almost certainly not get enough width for between chainstays and fork legs
Might not be an issue for gravel riding but would probably be a big issue for any actual MTB-ing.
You might be okay with the freehub if you go with a MTB cassette as Shimano 11 speed cassettes fit onto old 8/9/10 speed freehubs, but you'd also need a MTB derailleur to clear that so then you're looking at mixing and matching groupsets