LOTR and Potter are too different beasts.
And it tied to the worldbuilding. Lord of the Ring World building was super focused on the races, politics, and geography of things. So when it comes down to making a land, that is what is going to be easy for universal but the trouble will be in regards to food and beverage as Tolkien didn't write and add that stuff in the books nor did the movie create any memorable meals or drinks that everyone is dying to try and the dishes mentioned are extremely similar to what is served in Potter.
For me, when it comes down to it, thats why I don't think LOTR works at this time. People have come to expect a one of kind immersive experience where food/retail, location, and attractions come together and while we have a lot of strength in the location and attraction, the food/retail is lacking in uniqueness.