This is certainly possible. What you can do is use a BroadcastProcessFunction where you receive the rule code on the broadcast side.
Yes, this part works, no problem.
You probably cannot send newly compiled objects this way but what you can do is either send a reference to some compiled jars and load them with the URLClassloader or send the actual String code and invoke the java compiler from your function.
Referencing existing jar will not solve problem as I would need to re-submit job, which I want to avoid in the first place. I actually wanted exactly first scenario, send newly compiled objects.