Regardless of the degree of mod support, content creators have always found innovative ways to bypass policies. However, it's worth noting that this is only enforced on mods available on the Steam Workshop. So although I'm saddened to put a damper on your Warhammer mod fantasies, don't go expecting to see a Lord of the Rings overhaul anytime soon. I could totally see those guys becoming reskinned Naz'guls. More information about the Content Creator policy can be found here. Other IPs like Age of Sigmar or Warhammer 40,000 are separate, and are licensed to other companies. Only includes Warhammer Fantasy Battles content.
In a blog post from Creative Assembly, they've made it very apparent that modders should only create content that: However, despite initially seeming like good news, even fewer realize the limitations placed on the type of content Games Workshop is allowing. Mods that change textures and add new races are ubiquitous, and are often well-received by the community. If you're unaware of it, the modding community is a big part of the Total War series.