The question is actually, could you make a Year One that would be SUCCESSFUL and GOOD on the Joker's shooting budget.
Nope. Not in a million years, and certainly not one that would deliver even the minimum of what the audience would expect from a, nay, demand from a film with Batman as the main character in it.
I think it's romantic for fans to think something along these lines every time a film like Joker or Deadpool come along. Deadpool has great fights and SFX for it's budget, but I don't think anyone would compare it in terms of scope, production values and cast of Nolan's TDKT. Because the budget affects so many things, like who you can afford to play your characters, how much time you get to shoot on location and what you can do once you get there. Fight choreography, things like any stunt sequence with the Batmobile, production design... these are never cheap. Joker had almost none of the elements of an average action thriller, or even hard edged detective crime film. It's then also a gamble in terms of the creatives. Phillips and Miller and their team were able to strike gold. But there's no guarantee of that with everyone else being put in charge.
It's of course not an impossibility but committing to such an approach means you have to have an incredibly tight script, top of the line performers that are willing to work for cheap, and have ways to draw in the audience with minimal to no spectacle... These are improbable hurdles for a film with Batman at the center getting hamstrung money wise. The audience has expectations. Now... Pump that budget up to $75-$90 million and a stripped down (in comparison to what's come before) Batman movie might be a bit more plausible in my eyes.