Why? Couldn't it be coded similar to 2-handed weapons to take up/cover multiple slots?
It's not so much about slots as it is draw order. All games that deal with equipment have a specific order in which they program the game to draw the pieces. If you imagine your character in game pointing SE, an item in the cape slot has to be drawn first so that when everything else is drawn afterwards, it will look like the cape is behind the player and his/her armor. If the cape has a hood, the only way they hood will look like its covering our characters head is if it's drawn last (on top of everything else) the problem with that is that the cape part would also be drawn on top, covering up the rest of your character, and that just wouldn't look right at all.
Cheers!
-Grimm
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