I've been reading Forgotten Empress and I see no reason why a movie could not be made. It could be called Crippen's Curse because the murderer Dr Crippen, who was caught after being recognised by Captain Kendall on another ship, is said to have cursed him. :->
Although the ship sank quickly, quite a bit is known about events on board and there is material for romance, as well as adventure. I especially like the 8-year-old girl who kept her head and swam to safety. There's a lot of human interest, such as the large group of Salvation Army members, most of whom were lost. There were some of the rather rich and the almost famous on board, such as the actor, Lawrence Irving. Then there's the inquiry, with our old friend, Lord Mersey.
I think a very good movie could be made and it would be of reasonable length, which is more than can be said for Cameron's bum-numbing opus. The one thing it would lack is the magical name of Titanic. That would spook the financers.