In my opinion it's far too late to host a proper league.
Of course, it's overall not impossible, but there are some major issues you have to think about when you try to organize such a big and "traditional" thing like CNWL.
First of, the largest problem might be finding regiments that....
1. ....are actually able and ambitious enough to take part
2. ....even want to take part. Many regiments right now don't think that their regiments are still capable to do 1v1's, especially against big regiments. Now, why would you participate in a league then?
A big part of the cavalry community died after the last CNWL, which is already a year ago btw. That process is still going on. Regiments disbanded and players are gone or just inactive.
But I do really agree with the argument, that there's a need of cavalry events. Even though you should concentrate on non-regimental things like duel-tournaments etc, but there's one thing I'd really appreciate to see: a last CNC.