easily possible if you want to do it, but not with the sensors. You're in for about $150 in just sensors, then arduino, screen, case, etc. You need to be able to accurately read less than 5ppm of CO and those sensors aren't cheap. So $150 to do the arduino, screen, case, battery, programming. Sure, you can do it, question is is it worth it. If you say yes, then I'll be real excited, but ask you add a sonic He sensor to it, then the tech divers will be buying them
Indeed sensors would cost the most, which CO sensors are they using ?
I was more think it would worth more to DIY your own project where you totally can manage how you want to build it., and all depend of your own ideas.
You are coding your own software, of course it might not be highly usefull where divers only need to know accurate O2% and He%
but your version will clearly bring more features on it.
You can add moisture sensor, CO2 sensor, Temperature outside/gas sensor, Barometric pressure sensor, etc
You can build up your own DIY Home Station Air Monitoring, without to mention additional O2/He
Why not a wireless recheargeable battery or even solar battery,
Why not GPS,
Why not sync with smartphone or cloud server, by Wifi or Bluetooth
Why not a printer to print your gas analysis and paste it into your divelog books,
Why not add a Personal Filter directly into a Pelican box (dunno) to fill up
That one is cool:
Nuvair Pro 4 Warn Alarm Analyzer | Nuvair us$ 4 400
If you read manual / specs you can see how it's inside.
Now your DIY version won't have certifications or something else; but it quite a big interesting project even for educational purpose only.