iPad iCloud users

Is it possible to have multiple users on an iPad? Similar to that on an iMac where you have a user profile and can switch between profiles and their related iCloud accounts etc?

I would like to have a Family Hub iPad. But from what I can see, it seems only feasible to split use if I create a household iCloud account or just use a child’s account as a “shared” account on the device to ensure access is still restricted. Has anybody done this before with success?