With an old version of Wwise it's now possible to encode Wave files into the proper Wwise Vorbis format meaning that all character voice packs can now be fully complete (Installation instructions in the instructions tab.)
Proper Encoding Instructions:
Once you've installed Wwise, open it and make a new project. Name the project whatever you want. Also, under “Import assets to project:” you can hit “Select None” for a cleaner workspace although it's not required.
After the project is created, go to the top and go to “Project > Project Settings.” A project settings window should open, go to the source settings.
Click the three dots under default conversion settings and select “Factory Conversion Settings > Vorbis > Vorbis Quality High.” After that hit the OK button to close out of the window.
Then go to “Project > Import Audio Files.” Click the “Add Files” button and find the .wav file(s) you want to convert. Hit “Import” once you've selected all the files you want to convert.
Once all files are imported go to “Project > Convert All Audio Files.” Make sure windows is selected on the popup that shows up. Then hit OK.
Go to “Project > File Manager” then right click the text next to “Project Folder:” and click “Open Containing Folder.”
It should then open the containing folder, from there you want to open “.cache > Windows > SFX” and you'll find the converted .wem(s).
Everything else after that is the same as making a sound mod, just make sure to rename the extension from .wem to .stream.
I’ve tested both mono and stereo wav files and it seems to work fine, let me know if anything specific breaks the conversion (such as sample rate). And yes, the audio files you want to convert have to be proper wav files.