Make 5e Variant Encumbrance change the speed, modifiers, etc

The 5e Variant Encumbrance does of course show the player a red warning message at the very bottom of the inventory, but it does not make any adjustments to their character sheet. Could it not change their speed, maybe put their speed in red, put a marker on the token, or something? Many players seem to never look down at the bottom of their inventory, and as a DM it is not my standard practice to routinely check their encumbrance. Perhaps automating a lot of it would be helpful.

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