I've often thought this could work if the code reviewer was full-time, but rotated regularly. Just like a lot of jobs do with on-call weeks, or weeks spent as release manager - like if you have 10 engineers, and once every ten weeks it's your turn to be on call.
That would definitely solve the "code reviewer loses touch with reality" issue.
Whether it would be a net reduction in disruption, I don't know.
You could do some interesting layering strategies if you made it half time, for two people. Or maybe some staggered approach: each person does half time, full time, then half time again, with there people going through the sequence at a time. Make each commit require two sign-offs, and you could get a lot of review and maybe even induce some cooperation…
Doing code review as described (actually diving deep, testing etc) for 10 engineers producing code is likely not going to be feasible unless they are really slow.
In general, back in 2000s, a team I was on employed a simple rule to ensure reviews happen in a timely manner: once you ask for a review, you have an obligation to do 2 reviews (as we required 2 approvals on every change).
The biggest problem was when there wasn't stuff to review, so you carried "debt" over, and some never repaid it. But with a team of 15-30 people, it worked surprisingly well: no interrupts, quick response times.
It did require writing good change descriptions along with testing instructions. We also introduced diff size limits to encourage iterative development and small context when reviewing (as obviously not all 15-30 people had same deep knowledge of all the areas).