Hook would work. Probably even lighter weight options. The only portion of the carriage that needs the UHMW is the part that touches the pole.
Hey, what if you were to thread several teflon washers onto a loop of cord? Knots on either side of the washers, to keep the washers centered. Would that slide down the pole? Might be a low-cost proof-of-concept. Might be your solution, too, who knows.
Wait. I have seen teflon "spacers" in the drawers at HD, those would likely work better than washers. Lower profile and wider.
In order to keep the camera oriented in the direction you want, you'll have to have two cords hanging down from the pole, possibly two carriages, cords terminating in an angle, meeting at your camera. And the carriages would have to be separated, maybe by a bicycle spoke. Otherwise the camera will spin, I think.
If you only want one extension projecting downward from the carriage, it would need to be rigid. And I'm thinking rigid = weight. Although a throughly aerated piece of aluminum bar stock might do the trick…a stay from your pack?
Meh, every time I think about that camera rotating, I talk myself out of a solution that uses cords that could twist.