Bisect tool placed on cursor or active selection?

Blender have bisect tool, which allows to cut through part of mesh leaving behind. Is there any possibility to place that bisect tool on “active” edge, copy edge transfrom and make something similar like on gif below?

i wouldn’t do it with bisect, I would probably use booleans. here’s a mockup of how it would work, the script would be fairly trivial to write as a modal operator.

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