Please play Monster Hunter World. Pay close attention to how they handle the radial menu, the sorting, and the loadouts. Do that.
You might also want to take a look at how combat is handled game as well since it about 1000% better than this game. Although I will have to admit that the combat in this game is better than Ark, but that is not saying much.
I highly doubt any of this will be implemented because I can’t even fight a monster right now without some sort of bugging out (warping, rubber banding, screwy hitboxes) and every time I die, there is a 50/50 chance my corpse has fallen through the ground to be irretrievable. So the chance for them to completely overhaul the GUI is slim to none, but one can hope.
I play on PS4 btw.