If 3-day and jumping huge fences are allowable, which really ARE dependent on the horse himself and is much more the object of the sport, then I think they could allow jousting. Much more dangerous for the humans, who are the object of the sport.
They will never allow this because of the humans. Tilting they would, not really dangerous at all and akin to archery competition.
Those are good points. However, with the Olympics’ having boxing, wrestling, and hockey, I’m not sure about the concern for humans. Maybe potential tv viewership is the only criterion.