I realize that this is rather an old thread. Nevertheless, I'd like to share a little program that I've made recently, which can help you achieve the described goal.
How it works:
Simply speaking SymlinkSwapper creates a file (symbolic link/symlink), which you can use as a sensor panel background. Symlink points to one of the files in the directory of your choosing. After user-defined time passes, SymlinkSwapper replaces the file it created with a new symlink, this time pointing to the next file in the source directory. And so on and so forth. A short while after the sensor panel detects that the symlink has changed it reloads the background image.
Download + source code:
SymlinkSwapper GitHub page
Select the "Releases" URL to download the executable file.
Demo:
https://youtu.be/BuAg57Ey89Q
Recorded on Windows 10 Enterprise 21H1 build 19043.1288
Aida64 Engineer 6.50.5800
Disclaimer:
Running this software results in a small amount of data being written onto your SSD/HDD. However small it might be, it's happening constantly with the frequency that you choose. In order to avoid any unnecessary I/O operations that might, in the long run, impact the lifespan of your storage device I would suggest using a Ram Disk utility, such as ImDisk, to store those files in the system memory.
ImDisk tutorial
Please note that in order for the SymlinkSwapper to work, the executing user has to be assigned appropriate privileges. If you don't wish to modify your system settings for the sole purpose of testing this software you should be able to get it going by selecting "Run as administrator" from the context menu.