That is a bit of a stretch.
There seems to be significantly more Anthony Skene, William Burroughs, and Edgar Rice Burroughs DNA in his works. While Burroughs (Ed Rice version) was part of the Howard Circle, he is no more Howard than Howard is Lovecraft. We are getting into cousins and uncles rather than parents.
The oblique tie would be thru his coordination with Lin Carter. But many REH purists have noted how little of an influence Howard seemed to have on Carter and DeSprague for that matter.
Altho, as a death cultist, the concept of posthumous collaborations is fascinating.
But Moorcock gave us the stamp of that contentious little bag of debate called alignment. Specifically the Law v Chaos which was the original formula, with Good v Evil being a later addition. Mind you, Poul Anderson’s works may also have had some gravity, but at that point should we not just package all of Moorcock and Anderson under Lin Carter as it was his magic media circus?