Thoughts: Great concept
However... due to the nature of the game and online-play (latency/lag) such implementation is not currently possible with the technology we have. If we could stream-line all players systems EG: consoles, and have everyone play in real-time (no lag/latency) over a closed wired LAN, then it could possibly work. The whole 'e-sport' things makes it so if a player meets the the requirements to play and opts to, they need to be on as equal ground to to speak as their piers within control of the host. Implementing a combat system overhaul is not realistically feasible without alienating a vast portion of account holders, as this is a lower impact game in both PC specs and Network traffic (by Today's standards), as to keep the potential player base broad. The last thing Riot wants to do is potentially lose 90%+ of the player base that could not run the overhauled system to implement this concept, smoothly or at all, resulting in only those with very high systems, internet connections, and prime locations to be able to run as intended.
Its not as simple as one would think, auto attacking, uses a 'lock on' type system, while what you are suggesting is a mix of a lock on and 'free fire' more commonly refereed to as 'skill shot' system in MOBA's. Getting the lock on system to cancel when a condition is met is quite..messy, and having it taken over by a different system. Every single projectile originally an auto shot function would have to be set up as a guided projectile. Furthermore, it would have to synch up with all other players connected. Thats quite a bit more computation there, that then has to be shared among all other players as it happens.
MOBA's were born in RTS games, (namely StarCraft) those games have tried over the years to make such targeting systems, and 'short-cut' them so they work effectively, and do not take gobs of memory, HDD space, computations and entities. They have failed every time. Replays for example were broken for meany years in Starcraft, the Warcraft series, and even the most recent StarCraft 2, using the 'short-cut' techniques they tried. The replays either reproduced incorrectly causing the games themselves to crash, or were completely unusable. Needless to say, in the end, it was not possible to achieve what they wanted.