You could technically do 2 of 3 multisig using just one hardware wallet and one hot wallet.

Use the hardware wallet to generate the first seed, copy that seed onto paper or metal, then delete it. Then use the hardware wallet to create another seed, and leave that one on the wallet. Then use your third hot wallet provider and you’re good to go.

You could sign transactions with your hot wallet and your hardware wallet as 2 of the 3 keys, but if something happened to one, you would still have the third key which the hardware wallet also generated as backup.

I’m not a big multisig fan in general, and I think one hardware wallet with multiple secure seed backups in geographically dispersed locations is good enough for 99.9% of people. 2 of 3 is still much better than 2 of 2 because with 2 of 2, if you lose one key or have one key destroyed, you’re done. You’ve just lost all your coins. That risk is very serious and decently likely to occur for most people, irregardless of their technical abilities.