I have the same question as OP, but for slightly different reasons: I'm looking for combo WiFi+BT, and ones available are usually USB nano, which are terrible range-and-obstacle wise. By BT dongle has half the range if plugged to the back of my PC tower, and then there's desk and other appliances in the way.
So having something that can do much better range but still be compact enough to plug into an USB port is very good idea.
However, the main obstacle is that M.2 wifi cards are usually in A- or E-key, while SSDs are now coming in M-key. Those aren't compatible, so highly doubt there will be an M.2-to-USB (preferably 3 or higher) adapters with A or E key slot...
So, the answer is: no, not really, unless you happen to have a really obscure M.2 adapter type.