Why would you want to host the course in a non-LMS like SharePoint?
That said, SPO doesn’t allow the developer or user nearly as much freedom or customizability. You might have to host the course elsewhere and just link to it from SPO. I’ve only just started developing for SharePoint (and I do not like it) but that’s my impression.
Wow … there are at least 4 SharePoint-based Learning Management Systems.
I had no idea.