I think the asset is already at risk if you wish to use it for overland ISR roles and clearly Government and RAAF have been comfortable using it’s predecessor for such.I actually read an article about the possibility of using the P8A as a bomber.
Bomber Close Air Support for the Australian Defence Force? The Case for a Land Strike Capability for the P-8 Poseidon - SGT G.
It would be a very expensive asset to risk on a bombing mission even if it was retrofitted with the necessary equipment but in theory, it would be possible.
Given it will only be operating in permissive air environments in such a role and would be conducting medium - high level operations and employing precision weapons with standoff capability, I don’t think the risk is too great. It is over the battlefield already in these scenarios doing ISR work. Given it will use weapons with significant standoff ranges I don’t think adding a strike capability significantly adds to the threat it faces.
The real issue to my mind is getting the USN to run the weapons integration and software and hardware updates this proposal would require.
Just as with the Abrams tank re-engining issue, we certainly won’t be doing something like this alone...