A show modelled after The Late Late Show With Tom Snyder pops into my mind. No band, no audience, just a host and a guest. Not too much different to how podcasts are now. Obviously won't be as cheap as a podcast as there will be a higher cost like a fairly paid host, union crews, TV studio rentals, and more.
It's not a bad idea, but here are the hurdles:
Snyder's original late-night show, Tomorrow, aired at 1:00 a.m. from 1973-1980. The Tonight Show was 90 minutes in those days. When Tonight cut back to 60 minutes in 1980, Snyder moved to 12:30, but two years later, NBC decided to put Letterman in that timeslot and offered Snyder 1:30. Snyder quit.
Letterman felt bad about it, became friends with Snyder, and after Dave's move to 11:30 on CBS, his company, Worldwide Pants, launched the Late Late Show with Tom as host---and again, that was a 12:35 show, not an 11:35.
Even when the topic was rock and roll---even outrageous rock and roll, an hour of conversation could tax attention spans of those not especially into Tom or the guest:
You need a world-class interviewer. The typical podcast vibe's not gonna cut it. There are a million of them. This would just be another one unless you have someone who can talk to
anybody and get them to say and do stuff that will go viral the next morning.
You need to book compelling guests---you're still up against Kimmel and Fallon, who book major stars. Seth Meyers had Taylor Swift Wednesday---at 12:35.
The existing audience for CBS in that hour is pissed off. They're also used to a big, flashy late-night show with pointed political humor and big-name guests. Expect most of them to defect to Kimmel (Colbert appearing on Kimmel last week and vice-versa on the same night was essentially Stephen's endorsement).