Fedor could make LHW in my opinion. Guys like Tito, Rampage and Forrest cut down from around 220, and Fedor is listed as weighing 227 (And weighed in at 230 in his last fight). All that means is Fedor has to drop 10 pounds, and then can drop the rest of the weight in the sauna before the match. Against Ramirez, Forrest reported he weighed 225 pounds in the actual fight (eating and drinking after weigh-ins), so Fedor could still fight around 220+.
This would be an easy feat for a guy like Fedor, who's in incredible shape but does carry around a few extra pounds. You can take a look at his physique and tell he could comfortably drop 10 pounds if he ever needed to.
Basically, what we would see is a nearly identical Fedor fighting the guys in the LHW division. Can you say ****? He would chew up and spit out every one they put in front of him. The guy is used to fighting dudes who are much taller and/or heavier than him. It would be a vacation for him.