You do realize that a thing such as code of conduct will be a leeway for a censorship? Just look at that certain incident (happened a few months ago), which banned players for allegedly "cheating". You can enforce that code of conduct in your official servers, but leave the private and community servers alone. I'm sure all the authoritarian countries would gladly accept you as a media minister: pretending to care about the well-being of citizens, but trying to censor them (and all organizations that are even slightly critical of them) in reality. Why do you care about people saying what they want on their own private server, that they almost certainly paid for?
Muting people is also an option, instead of forcing them to adhere to guidelines.
TaleWorlds should have never marketed this game towards mainstream audiences: now we will have bunch of moral watchdogs (one watchdog for every player!) , watching over the shoulders of players and reporting them, then being banned, because they don't like what people say. The internet was never a pretty place.
Warband didn't need such a drastic measures, why would Bannerlord need it? Unless the players are specifically directing personal attacks at you (private information and all that), then I don't see the uproar. If they do, then you should report that to the law enforcement, not the comissars moderators.
I know this is a controversial and strong opinion, but I won't change it, unless someone can convince me to do so.