Yes, it's a possibility, but if you want to tinker, I think a plain Linux distro like Debian is better. Turning it into a router is literally a couple of kernel parameters and a few iptables rules to set up NAT. Nowadays that's less than fives minutes of work with Claude.
This buys you much better performance and hardware compatibility relative to a BSD system, as well as lower resource usage and attack surface (no GUI or other unnecessary additions). WiFi support on BSD is bad, but on Linux you can use hostapd and almost immediately get an access point for free. And of course Linux is also better if you intend to run other stuff on the same hardware.