There's no fast way to swap items on console at the moment and after an incident with salties I had this idea
I play on PS4 but this should work for Xbox too.
Switch the item wheel to the L1 button (hold) and leave the huntermate L1 (tap)
Allow the D-pad to be "set" to correspond to an inventory slot. So If i had a rifle or bow in slot one I could set the up button on the D-pad to select it, but if I tap the right button it brings up a call of the binos, then set the down button for another slot where I have a pistol.
Set up like that, I could focus on stalking a diamond with my weapon of choice but also have the ability to quickly pull out the .454 to stop a charge
Pc players have this ability already with number keys but Console players have to navigate with the weapon wheel and actively choose am item.
This is just a quality of life feature but it would make gameplay smoother and more accessible for anyone using a controller