By putting HP in the armor you partially solve the problem.
Less good armor has few HP and therefore after going to zero HP it does not protect the limb they cover, instead good quality armor would protect the covered limb for a greater number of hits.
If an enemy is wearing similar armor parts, you should hit the same point several times in order to break it and do full damage.
The idea is good, although it runs the risk of becoming repetitive and spammy towards a particular hurtbox.
Basically the idea is better than the current system.
I too had proposed an idea about the amor system which in a certain sense is similar to yours, although the condition of the equipment I consider it in a separate thread from that of the armor system itself.
I leave you the link in case you want to read it.
In relation to your idea, for me it is a big yes.