A wall location is much easier to accommodate cooktop ventilation than an island or peninsula configuration, but the extent of this truth somewhat depends on what is above the ceiling, and what the ceiling height is, and whether this is new construction or a renovation of existing architecture.

The higher the hood entry aperture, the larger it has to be. Conceivably, with an 8-foot ceiling, a one-foot high assembly based at 7-feet height might be feasible. It would have to be commercial sized in its entry aperture (say 6-inches of cooktop overlap in all directions -- 3 x 4 over a 2 x 3 cooktop). In such a case, it could still have proper (albeit low angle) baffles and a containment volume above to a duct to outside.

Cleaning would be more difficult with a hood base 48-inches above the cooktop than with a hood base 36 inches above the cooktop. I am not aware of any such hoods provided by the higher-end residential hood manufacturers, but am confident that if suitably encouraged, a tailor-made (bespoke) hood by ModernAire, for example, could be fabricated. You would still need a path to the outside, either through an attic, or chase in a room above, or horizontally if the joist heights provide sufficient sectional area. Twelve-inch duct might be needed.

With sufficient floor stiffening, a deeper hood could be inserted into the joist space (in new construction) by framing out the area and providing a horizontal feed to an appropriate joist path. With additional height, baffles higher in the assembly could be used and potentially modestly less CFM would be needed. However, vertical ducting is greatly preferred, and avoids the potential for grease accumulation.

Please be aware that the higher the hood entry aperture, the more susceptible the rising and expanding plumes are to transverse drafts, and even turbulence from people moving about. If there is a static direction of flow from air conditioning, for example, some growth over my 6-inch comment may be needed.