I doubt we could have an elected head of state without power.
The point of a modern monarchy is that it puts all the glamour* in a role that can't do much damage and that power-seekers can't sneak their way into.
* Interesting term. I bet we could both do something with that.
You're literally describing the German president whose office basically descends from the kaiser, but has been stripped of power and opened up to election.
Eh, no. There are a whole bunch of former British Empire nations that have a flag-wrapped dummy as an ersatz monarch in place of the former royal; it's an easy patch for "take British system of government and bodge it to remove UK head of state". Even Ireland started out down that road in 1922-ish.