Yes, it can be done, but the main concerns are practical rather than technical. The biggest risk is removing the original rubber without damaging the camera body or underlying surfaces. After that, the challenge is making leather pieces that fit accurately, including clean cutouts around any sensors, controls, and edges on the grip.

Adhesive choice also matters: it needs to hold securely without causing damage or mess if the material shifts. Unlike many vintage cameras or some mirrorless models, DSLRs like the Nikon D5200 generally don’t have widely available pre-cut leather replacement kits, so this would likely be a custom job.

If you’re comfortable working with leather and careful disassembly/removal, there’s no obvious reason it can’t work. But if your goal is mainly the classic look with less risk and effort, a leather camera half-case or full case is the simpler alternative.