First, regarding the tag:
We already have the tag neologism.
I don't think we need that tag at meta.
Your question is whether a certain question type would be fine at the main site, and general tags for that purpose are enough.
You can derive new words in several ways in Latin (and Greek and other languages included here).
This can be done systematically, and asking about this system is of course on-topic.
For example, I would have nothing against you asking how to make a Latin compound word for something that eats four-legged animals, as long as you share your own thoughts.
(My very quick guess is quadripedivorus.)
At the very least, look up some relevant words in a Latin dictionary and ask for help in putting them together.
If you can find some examples that are close to what you want (but use different words), please give them and explain how you would like to adapt them.
Some might frown upon coining a totally unprecedented Latin word, but that would not be the case here.
There is ample precedent in forming compound words, even if the particular one is new.
You can also consider asking for such a word in classical Greek rather than Latin.
Greek seems to be more flexible with compound words than Latin, but asking about Latin is of course fine.
The answer might be "you can't put that in one word, but here's a way to say it in three instead of eleven", but that's something, too.
Yes, you can ask such a question.
Just explain clearly enough what you want and try to do some preliminary research into it yourself.
But keep the length reasonable; I hope you are going for something shorter than Aristophanes.
And be prepared to get "no" for an answer; sometimes you just can't combine words the way you want into a single one.
(Don't take only my word for this. Let's wait what others think.)