Absolutely no reason why you couldn't, so long as the viscosity matches and the heat rating was equivalent.
LHM should be OK, even though it's mineral based. all you would have to be aware of is a potential for buildup in the box if it got really hot.
The way I see it, the ZH-M in the SLS, is constantly circulating throughout the system, returning to the reservoir before being pumped back to the levelling valve then to the accumulators and up into the struts and back to the accumulators.
I've not ever noticed any 'fade' in those hydraulic dampers, and I'd wager they work a lot harder than a steering box. So perhaps it would be fine. I don't know what the operating temp range of LHM is, so not qualified to make a statement on it, nor am I familiar with the viscosity, but the ZH-M is Low-vis. It's also a little bit on the expensive side to be using in an already-leaky system.
If your PS system isn't leaking 'badly' then it's probably worth a go. But not before the ATF is completely flushed out with the proper flushing fluid. In my experience, it's easier to pull the steering box, strip and clean with B1, replace all the seals, reassemble and refit. Using evaporative solvents on aged seals doesn't seem to do them any favours. they're either too brittle from the hardening reaction with the fluid or solvent, or they swell and then soften, then deform when reassembled. Seen it done too many times now, and a seal kit is dirt cheap, rebuilding a box takes less than an hour, so it's not like it's overly-complicated.
well, it's not complicated if you can pull it apart. You know what I mean.

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