Wayback is a new Wayland compositor that implements the X11 window manager API on top of a single rootful XWayland session: https://www.phoronix.com/news/Wayback-X11-Wayland . XMonad should run fine inside it.
This gives you the advantage of Wayland's modern display stack and no legacy Xorg code while still running a classic X11 window manager.
The main downside is you have to run all X11-compatible apps, it's unable to manage any Wayland-native applications. But, X11 apps aren't going away any time soon, just the display server.
Wouldn't be lightweight or ..say.. easily GPU accelerated, but should work with some plumbing effort.