Just an update for anyone wondering about whether this is actually possible because a lot of doubt has been cast in various threads (and so I'm adding a note to all the ones that confused me):
It works. I was able to connect to my ISP through Openreach using an SFP ONT I bought online. The original ONT provided by Openreach was a Nokia G-010G-Q so I purchased what seemed to be the closest equivalent, the Nokia G-010S-A (G,S = GigEth,SFP and Q,A is just the manufacturer).
At first when plugging the SFP ONT and fibre in nothing really seemed to be working, however this is obviously expected as I hadn't matched anything from the provided ONT. This was easily fixed by using the information over at
https://hack-gpon.org (a great resource documenting configuring ONT hardware) to copy as much of the information on the stickers on the outside of the original ONT (MfrID+SN, HardwareVersion, ICS, Mnemonic, MAC) onto the SFP one. While I was at it I also upgraded to the latest known firmware.
Once all that stuff was copied over it was plain sailing. I was able to use PPPoE (without vlan 101) to authenticate with my ISP (Plusnet), get an IP and route traffic. Everything seems to be extremely stable and I am happy with how things are working. I've not seen any benefit in switching the ONT over to 2.5G mode, however I've left it on anyway as I'm not getting any adverse effect either. It's really nice to just have the fibre from Openreach go straight into my router now.
Obviously, this is all at my own risk and I've kept the old ONT on hand for if problems happen.