By doubling camshaft speed or using symmetric, twin lobe profiles per cam, the current PUs could be turned into two-stroke engines. They would end up sounding like they are operating at 24k rpm, while still trundling along at 12k.
Aside from valvetrain design, the rest of the PU can remain unchanged. The MGU-H compressor will be well suited to flushing the cylinder per stroke. Reprogram the ECU to deliver higher injection and ignition frequency. If a two stroke combustion moment can produce half as much power as the current 4-stroke combustion moment, then the fuel flow rate too can remain unchanged. If not, it could be raised as required.