It would be pretty difficult, since I don't think the sex should be cut out.
Valkyrie Drive and Gushing Over Magical Girls prove you don't have to cut out the sex... not that I understand how either one got made.
With Valkyrie Drive it's in part a somewhat older anime, made as I think one of the last anime by Arms, the studio that made Queen's Blade. Which Queen's Blade and that studio were a different era of fan-service in general.
I think part of MahoAko's lower budget might have been due to the sexual nature of the series, but it's still surprising it was even made.
Regardless I think this manga is still more sexual than any of those, as sex is a core focus of the work.