Hi, yes, in theory it should be possible. Let me check on my demo first.

I made basic test and I was able to put Custom module into menu. Remember to not choose menu position if it must be module under one of text menu item.

Thank you Paul, I have now got that working. Do you know if there is the option to span full width of the drop down of the mega menu? I have played around with the width setting with no luck.

Sorry, from settings you cannot get this view. It requests extra CSS customization.