There would be two issues with using layers of G10 instead of glass cloth.
The main issue is the type of bond.
When glass cloth is properly saturated and laid on another layer of saturated glass cloth, the epoxy in the first layer mixes with the epoxy in the second layer and so on. When that has fully cured the result is a single solid mass. This is why, for the strongest repair of this type, one layers from both the outside and the inside.
With just G10, you’re relying on the abraded surface of the G10 to hold on to the epoxy. It’s not absorbed into the already solid material. Cured epoxy by itself is brittle. Under the right loads there would the potential for one or more layers to sheer and the repair fail.
The other issue would be the epoxy itself. If I’m mixing several small batches to wet out the cloth, there’s more room for error if one batch is slightly off (not enough hardener for instance). If using G10 and that batch is off, the bond may never set properly and be even weaker than it would have been.
Above the waterline you could probably get away with that depending on where the repair was and the loads it had to handle. Below the waterline? No, I don’t think I’d want to try that.