maybe instead of flat out stealing equipped items, you'd have to replace it with an item of same or similar type and weight. like you could switch out an iron sword for a glass or whatever. or simply gain an enchanted one over a plain weapon.

Prehaps there's a perk to steal someone's pants without them noticing....>.>

I'd get it =p

Perk
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Name: Is that a dagger in your pocket?
Effect: Opens up unique dialogue when caught pick pocketing someone.

Ability to steal equipped items, such as clothes, armor or jewellery.

Better question: What perks could they possibly give heavy and light armour that aren't stupid, useless, nonsensical, or really splitting hairs?