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Guys. We held a tournament within our clan where players played with custom-made heroes. Each player chose the hero's build, race, etc., for a certain number of points (race, spells, artifacts, skills, and abilities, with better skills costing more). First, weaker players created heroes, and then stronger players did, trying to avoid repeating races, skills, abilities, and standard specializations as much as possible. So, the weaker players had a slight advantage (or whoever submitted their hero first :)). The games were played on Heroes of Might and Magic. To avoid playing the same heroes for too long, each game was a single-elimination match.
I have an even better idea. After each match, a player takes the hero of the losing player (like taking a car after a race) and can then play with any hero from the collection of stolen heroes or their own in the following matches.
Technically, this is feasible if you create a mod to add this feature to the standard game – it's very simple (it used to be a bit more complicated).
Here, I just threw out an idea. It's up to you to decide.